Day traders trading YM should close their positions the latest of which is by 5:00 PM EST since this is the end of the daily trading session of most electronically traded US stock index futures.
There are some good reasons why you want to be out of your position by then. Firstly said:
I am trying to find out how day trading margin work for co related futures spread ... as an example 1 x S&P Big Vs 5 x S&P E minis ( 1 x SPM11 against 5 x ESM11).. SO this is a "Synthetic spread" not a "Exchange recognized spread) like typical calender spread.
CME says since they are fungible their margin is only $1 a set ( set being the above 1:5 ratio)
But when I ask the brokers I get very diff answers
Option express = $625 for the set but the commissions are just too much 6.99 per side!
Global says = $7000
IB: full margin unless you have $100,000
SO does anybody know any better alternatives?
Appreciate you help