Cl is about 288 (sorry forgot the actual number)
and
NG is more like 750

jokertrader 

CL vs NG : Outrights: (U17) 2888 vs 1925 3 month calendar (U17/Z17): 308 for Cl vs 495 for NG 3 month fly: (U17/Z17/H18): 154 for Cl vs 935 for NG $935 for a NG 3 month fly??? why so much compared to CL... i know NG 3 month is prob more volatile than Cl but SOO much more?? why? Is it i picked the wrong months since NG in winter can move either way? ********* i dont think so ********* 3 month fly in summer: March/June/Sept 18 NG: 635 vs CL: 89 (really 89..... wow) Of course this could increase as we get closer

NG Spreads in general, and certain ones in particular, are definitely more volatile than CL Spreads, its far more seasonal than CL.
(100 day standard deviation of daily change of CLU7/Z7 is 60.2c or $602/contract while for NGU7/Z7 it's 0.99c or $994/contract.
If you divide the margin by these USD values you get 5.1 and 5.0!)

When we get back to winter NG is more volatile in general, and come December outright margins will be higher than CL as well.

The other thing you need to consider is that SPAN uses tiers. Spreads 'within' a tier are margined at lower rates than spreads 'between' tiers. I'm not sure which tiers the contracts you picked are in, but that could have an effect as well.

CobblersAwls 

Will be interesting to see how positioning has changed during the latest sell-off to $44's.

Commitment of Traders says a lot more shorts added

jokertrader 

spread(CLES12Z7-CLES12Z8-CLES12Z8+CLES12Z9) chart

SMCJB 

Dropped to -40, lower end of the last 6 month range while z890-z901 at -7 is at the higher end of the last 5 month range.

CL z7z8z9z0 Double Fly back to -12, 8901 also at -12, so thats' closed 30+c in 5 days.

CL z7z8z9z0 Double Fly back to -12

So this is
A1) spread(CLES12Z7-CLES12Z8-CLES12Z8+CLES12Z9) chart

which can also be written as
A2) z789fly - z890fly as thus (CLES12Z7-CLES12Z8)-(CLES12Z8-CLES12Z9)

A1 and A2 chart match and makes sense
(of course i see them at -0.14 as i am writing this)


CL 8901 Double fly is at -0.08 as i am writing this

Posting the charts for confirmation

jokertrader 

CL z7z8z9z0 Double Fly back to -12 So this is A1) spread(CLES12Z7-CLES12Z8-CLES12Z8+CLES12Z9) chart which can also be written as A2) z789fly - z890fly as thus (CLES12Z7-CLES12Z8)-(CLES12Z8-CLES12Z9) A1 and A2 chart match and makes sense (of course i see them at -0.14 as i am writing this) CL 8901 Double fly is at -0.08 as i am writing this Posting the charts for confirmation

Hey jokertrader, what does all this mean?
z789fly?
CLES12Z7-CLES12Z8?
What are those charts of?
Thanks

Look through the last 10 or so pages

For CQG, Crude symbol is CLE

outright is CLEM7 (for June)
a 1 month calendar will be CLES1M7 (S1 denoting 1 month spread and M7 is the starting month)
a 3 month calendar will be CLES3M7 (S3 denoting 3 month spread and M7 is the starting month)

So CLES12Z7 means 12 month calendar from Z7 (Dec) - so Crude dec 2017/Dec 2018 calendar

A fly is 2 calendars (one calendar minus the other calendar)
CLES12Z7 - CLES12Z8 means

Long Crude dec 2017/Dec 2018
Short Crude Dec 2018/Dec 2019

(so if u think of an option butterfly where you are 1/2/1 with the middle being short 2, similarly you are short Dec 2018 twice and long Dec 2017 and Dec 2019

jokertrader 

Look through the last 10 or so pages For CQG, Crude symbol is CLE outright is CLEM7 (for June) a 1 month calendar will be CLES1M7 (S1 denoting 1 month spread and M7 is the starting month) a 3 month calendar will be CLES3M7 (S3 denoting 3 month spread and M7 is the starting month) So CLES12Z7 means 12 month calendar from Z7 (Dec) - so Crude dec 2017/Dec 2018 calendar A fly is 2 calendars (one calendar minus the other calendar) CLES12Z7 - CLES12Z8 means Long Crude dec 2017/Dec 2018 Short Crude Dec 2018/Dec 2019 (so if u think of an option butterfly where you are 1/2/1 with the middle being short 2, similarly you are short Dec 2018 twice and long Dec 2017 and Dec 2019

Is this options trading or spread trading(Neither of which I have any clue on)? Or something else entirely?

These are futures spreads (not options)