I am interested in buying oil futures.Can anyone tell me the symbol for light crude which closed today around? - oil futures symbol
34-35 dollars per barrel.
Saturday, January 16, 2010
Oil Futures Symbol I Am Interested In Buying Oil Futures.Can Anyone Tell Me The Symbol For Light Crude Which Closed Today Around?
7 comments:
GO USE cart. or an account with Interactive Brokers NYMEX.
GO USE cart. or an account with Interactive Brokers NYMEX.
CLH9 is the product code for March 09, West Texas Intermediate futures on the NYMEX.
First, you need a brokerage account, these instruments trade.
Now comes the technophile, oil markets are Order 1000 when a barrel of oil. Therefore, the minimization of exposure to the current $ 35,000. Futures are traded "outside", which is usually 10% of the exposure and at least it paid $ 3,500 for the beginning. Of course, if oil prices fall, the margins fall with him, you should always keep a certain amount in the margin account and your broker is expected to be covered until the end of the day. If you do not cover this range, your position will be sold at a loss.
Oil is currently a motion to adjourn, which means that the futures price exceed the spot price. The problem is that while you can see, oil traded at $ 35 per barrel, the future is $ 38. Every month there is another contract and the contract of the 09th December were negotiated 60 U.S. dollars. This means that if you have a buy contrAct of March and the oil price will not change, losing money, even though oil prices stay the same, or even for a few dollars.
What the proposals for the purchase of the USO, it is one of the ETC Fund, based on the nearest futures contract available and rolled up to the end. This means that every month is suspended for the lists of contracts for future work 2 months notice, as mentioned above. People are hammered by this product, because they lose 5-12% a month after the adjournment. I can not stress this enough, who wants to buy oil, to find the product, remove, or futures contract on Total Return Swaps! (USL is a fund, medium and CRUD: LN is based on total return swaps)
USE
Best Buy of the USO.
Best Buy of the USO.
dont do it !!!!!
Post a Comment