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nepenthean
8th December 2010, 21:25
Hello!

Anyone know how to get open interest figures for the current day? I checked CME's site and another futures site, but they only offer data for the prior day. My application does not offer it for the current day after close.

Thanks

AgShaman
9th December 2010, 01:25
The CME Group has done alot of things lately to remove your access from info. It's on a needed to know basis now...and my guess is they don't feel like you need to know.

I don't follow their "numbers" that closely....maybe you find them somewhere and maybe you don't.

I haven't heard much about DEC. Contracts so that tells me there may be plenty of players still in Limbo....and if they're in limbo...then maybe they are unable to participate until they are outta limbo. Pehaps you would do well to compare the daily volume over the last couple weeks....maybe that will clue you in better to the other parameters.

Crash Silver...Crash Damn You! (wait until tomorrow though)

Matthew Shelley
9th December 2010, 08:38
Hello!
Anyone know how to get open interest figures for the current day? I checked CME's site and another futures site, but they only offer data for the prior day. My application does not offer it for the current day after close.
Thanks

Open interest can only be calculated after trades are fully cleared, including outtrades. The open interest data has been shown on that schedule since the beginning of futures trading in this country. Any public data you require is available on their website. On the flip side, sometimes the data can be a pain to locate because, in my opinion, they have knuckleheads for programmers who know little about the markets and trading, and even less about customer service. Nothing is being 'hidden' from you, and if you really have a problem, ask me or any other futures broker to chase it down for you, or you can call the exchange directly at 312-930-1000.

Matthew C. Shelley
Commodity Broker

As always: Trading in futures and options is very high risk investing. You can lose all or more of the money you invest. Only risk capital should be used.

nepenthean
9th December 2010, 20:57
Thanks for the thorough reply, Matthew. Glad to have an experienced futures player here on board! Could I ask another question?

If open interest rises in the context of a rising market, why is it bearish? If a new short sells to a new long, it seems the bearish conclusion ascribes more significance to the short than the long. It seems the 'who' is more important. If a market is rising--especially to 30 year highs--it would stand to reason more experienced traders will sell the highs, while newbies will chase the price and be on the other side of the trade. What are your thoughts?

Thanks in advance.

Matthew Shelley
10th December 2010, 08:19
Thanks for the thorough reply, Matthew. Glad to have an experienced futures player here on board! Could I ask another question?
If open interest rises in the context of a rising market, why is it bearish? If a new short sells to a new long, it seems the bearish conclusion ascribes more significance to the short than the long. It seems the 'who' is more important. If a market is rising--especially to 30 year highs--it would stand to reason more experienced traders will sell the highs, while newbies will chase the price and be on the other side of the trade. What are your thoughts?
Thanks in advance.

It's not. Traditional market analysis is that rising open interest confirms a price move, up or down. And the converse is true for declining open interest.
The who is a different issue, usually used in analysis of the Commitments of Traders reports. Standard analysis would watch the changes in small trader positions for shorter term moves and large trader positions for the longer term. The one market category that is well known to throw a monkey wrench into the standard analysis is the precious metals. If someone pointed to a large increase in small trader positions in a dull market like soymeal that only us commodity goofs care about, I would be looking at taking the other side of the market using the theory that the crowd is usually wrong. In metals, the crowd can overwhelm the pros at times and snowball them under. It doesn't always happen, and if those markets are quiet and not splattered all over the news media, you can try to trade the standard analysis judiciously. However, in times like these, you can toss the old standard small trader COT analysis out the window.

Matthew C. Shelley
Commodity Broker

As always: Trading in futures and options is very high risk investing. You can lose all or more of the money you invest. Only risk capital should be used.