Both if the CBOE future expired now, once the CME bitcoin future is coming settlement, there was clearly an important loss of the bitcoin price. Both futures has a serious low volume and i also would reckon that they may be dominated by a unitary liquidity provider\/market maker. Forex trading maker is probably short the near future and possibly long lots of. At expiry, they’ll profit when the cost is low and also have a border after settlement if the cost rebounds. Sadly both CME and CBOE has chosen an incredibly bad settlement processes which are simple to manipulate. For CBOE oahu is the auction price for Gemini – a young which has a really small volume usually.
CME’s model is way better, however not as good, VWAP for the four major exchanges is a good idea, but if that VWAP is calculated on just one single minute of trading it’s meaningless. With few large participants, the quantity on a real brief period is extremely limited. Even if many large participants would have interests in almost any of such settlement processes they’d most likely have the same position and gains advantage from the same side in the market manipulation. The VWAP must have been calculated over many hours instead). In conclusion is we likely will discover a lots of strange market activity around each future expiration and expect a rebound after 3 pm Central time today!.
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