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Stuff like when Tom called me and asked if he could have a truckload of pork bellies (CME ticker:GBP. And: I told him no.) delivered to our house. Sadly frozen
by minimax 11y ago
Stuff like when Tom called me and asked if he could have a truckload of pork bellies (CME ticker:GBP. And: I told him no.) delivered to our house.
Sadly frozen pork belly futures don't trade anymore and haven't for about 4 years (almost to the day), and the Globex contract was GPB not GBP. But whatever, that sounds like a cool story and you should tell the rest of it :)
- tptacek 11y agoIt's been almost 3 years since we sold Matasano, 4 since Erin left, and a few years more to get to that story. Matasano started in 2005. Also: we're old. (The ticker is my fault).
- minimax 11y agoWhat was your plan for 40,000 pounds of pork bellies is what I really meant to ask.
- teraflop 11y agoSwimming pool full of delicious ramen?
- deleted 11y ago[deleted]
- Intermernet 11y agoSorry, silly question, we're pork bellies in particular chosen due to the movie Trading Places? If I were to pick a stock for a laugh I would have chosen pork bellies... It's a shame to see that they aren't traded anymore :-(
- jsingleton 11y agoI've heard many stories about traders letting their futures expire and having to take delivery of whatever commodity it was. I'm pretty sure they're all urban myths though. They probably just had to unload them quickly at a big loss. I would love to be proved wrong if anyone has a story with evidence. Preferably with pictures of shipping containers arriving at a city office!
- baking 11y agoDelivery was always at an established market point. Also, brokers would never let retail customers take delivery and would close out the trade because they would be at risk too.
- columbo 11y agohttp://www.minyanville.com/businessmarkets/articles/futures-contracts-expiration-soybeans-eggs-oil/9/21/2009/id/24547 http://www.minyanville.com/businessmarkets/articles/futures-... "Ideally, the broker will make sure everything goes according to plan," the Prince of Peanut Oil told me. "But I once knew a guy who was trading for himself. He bought six egg contracts, with each contract worth 18,000 cartons of one dozen eggs. That's 1,296,000 total. The guy somehow made the mistake of taking delivery."