There’s not a lot to update. Bid/Ask spreads have been inching tighter on a number of contracts (see summary table below). Activity seems to be concentrated in the front contracts, and in regions where there was some trading in August (e.g. CUS, LAX, and SFR) but there doesn’t appear to … Read More
There has been unusually high volume in the CHIX13 (Chicago Nov 2013) contract over the last few days. Today (Mon. Oct. 28)26 lots traded at 130.0, following another 10 trades over the last few days between 130.0-130.4. I imagine that traders involved have some expectation (and possibly disagree) as to … Read More
There have been three trades for 8 lots over the last few days in CHIX13 (Nov 2013) CME Case Shiller futures. Since that’s where the action has been, and since the CHI series has the largest open interest of any region, let me review three different approaches to trading that … Read More
My favorite sage on life (Cookie Monster) used to be good at highlighting differences among otherwise similar things. So it is with blatant plagiarism that I use one of his favorite expressions to illustrate an outlier situation in the CME Home Price Futures.
The bar graph to the right shows … Read More
I mentioned in yesterday’s blog (on calendar spreads) that the bid/ask spreads in the Aug ’13 outright markets had narrowed. That seemed to challenge/prompt other traders yesterday to bring spreads in further. (Thanks! Always appreciated!) Those actions resulted in 35 changes (all upticks) to closing prices. (I view keeping closes … Read More
Friday I teed up ten intercity day orders for the May ’13 contracts. While I’m open to continuing that discussion, today I want to focus on the other end of the expirations -the Nov ’17 contracts.
Unlike the May ’13 contracts where near-term outright price forecasts might cover a narrow … Read More
With the May ’13 expiration in just three weeks, and a handful of recent K13 trades (LAV, MIA, NYM), I thought that it might make sense to focus on front-contract markets.
The following table shows the recent history of each of the 11 traded CME reference indices as well as … Read More
The futures markets are generally unchanged after this morning’s release of the Case Shiller indices, although there is a mix of up and down markets.
I’ve posted prices that I’ve observed over the last 24 hours. (That is these are neither fed by the CME, nor are they live.) I’m … Read More
When you’ve been wrong, there’s no sense hiding as sooner rather than later the world will know. I have been working with (and have previously touted) an incorrect understanding of inter-city spread trading that I now need to reverse.
Inter-city spread trades work! One can enter an inter-city spread trade … Read More