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What are you trading? The price of NG or are you a producer/consumer? How many contracts are you trading daily weekly monthly? this is utterly ridiculous.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,384
Thanks Received: 10,206
NG Margins for
- Mar18 drop $1000 from $4600 to $3600
- Apr18 -$150 to $1550,
- May18 -$100 to $1330
- Balance Summer -$100 to $1100
- Next Winter -$100 to $1275
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,384
Thanks Received: 10,206
For clarification, that is only partly correct. $850 is the actual reported drop in margin. This is the change in initial margin for NYMEX members. This is how they think about it, and how they announce it. ( Margin Decrease Announcement). Its also the only margin number they list on their website ( NYMEX NG Margins). It is true though that Non-member initial margin is set at 110% of member margin, which you are correct would equal a $935 drop for non-members. As a member I think about it as an $850 drop. As a non-member you think about it as 110% of $850 or $985. Maybe semantics to many, but there is an actual difference.
Since this doesn't take effect until Feb 27, 2019 (after H9 is expired) you meant to say,
- J9 up to $1850 from $1550
- K9 unchanged at $1300
- M9 unchanged at $1100
NG "Tier" Margins are dropping (which is actually what they announced)
- Tier 1 down $900 to $1850
- Tier 2 down $250 to $1300
- Tier 3 down $200 to $1100
But as you highlighted since this is effective 27th, and March expires on the 26th, April is going from Tier 2 to Tier 1, which results in an actual increase.
So if you have an April position margin is going up.
If you have a prompt month position, and are rolling March to April, then margins go down.
