TJ,
I trade through www.interactivebrokers.com
You put down a few years of futures trading in the questionnaire.
Futures:
interactivebrokers.com
CBOT is the exchange, YG the ticker for emini gold
interactivebrokers.com
$1.81 per contract ($3.62 to Buy & Sell)
interactivebrokers.com
On one emini (33oz) the required margin is US$2000.
Approx $16,500 in value. However, Interactive Brokers only has cash settlement.
YI is the emini silver, ZG is the 100z gold, ZI 100oz silver
interactivebrokers.com
I chose the Dec 06s in case all hell broke loose in markets, so I didn't have to face an expiring contract, but obviously you pay less premium above spot for the earlier months and there is less liquidity than in the closer months. If you had quite a few contracts Dec 06 would probably be too illiquid, Feb 06 would be better.
I used eminis to take profits in chunks but if you're buying lots more chunks the commish is lower on ZG, ZI.
Session data:
cbot.com
Some brokers might have other products. If anyone finds a Futures Options let me know!
By the way, I'm not sure why the CBOT site only has quotes to Dec 07, since IB gives me quotes to Jun 2010.
INO has this chart of the 2010 contract, albeit thin vols.
quotes.ino.com
Mind the gap:
Jun 10 565x646.40 Last 636.8
As I said the other day, if we get an exhaustion spike (like in some Japanese stock we invested where the name escapes me, maybe a bank?) I think the YG Futures might be the best way to expeditiously capture the most profound aspects of the move.
Another tool for the toolkit!
Cheers, D |
