Natural-gas futures market sees huge 20,000 contract sell order: Nanex

November 5, 2013, 12:02 PM

A “monster” 20,000 contract sell order was placed on natural-gas futures Tuesday, according to Nanex Research.

The sell order appeared, then slowly faded away over a period of 4 minutes, Nanex said, noting that it’s rare to see orders over 100 contracts.

“Someone dumped a big position,” said Phil Flynn, senior market analyst at Price Futures Group. “I think someone or a fund had to liquidate. We noticed that there was a big order.”

Nanex said “it was not one order, but was made up of many smaller sell orders. Some of these executed.”

The trade came a day after natural-gas futures prices closed at their lowest level since Aug. 20. At last check, December natural gas  NGZ13 +0.96% was little changed at $3.448 per million British thermal units.

– Myra Saefong

Follow Myra @MktwSaefong

 

Link…

http://blogs.marketwatch.com/thetell/2013/11/05/natural-gas-futures-market-sees-huge-20000-contract-sell-order-nanex/

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