Trading Pit Hand Signals

Post by dbt00 » Mon, May 10, 2021, 6:08 PM UTC

fighterpilot wrote: post #20

csulmone wrote: post #11

Most people don't know that pit trading is still around! I work in SPX options trading and the CBOE in Chicago still has a huge in person trading pit.

Why do they not close it and go full electronic? What's the point?

Post by rfdonnelly » Mon, May 10, 2021, 7:00 PM UTC

anm89 wrote: post #23

I'm pretty sure the sign for Deutsche Bank is making a Hitler mustache with your index finger. That's something. https://tradingpithistory.com/hand-signals/participants-cme/...

Post by anm89 » Mon, May 10, 2021, 7:42 PM UTC

rfdonnelly wrote: post #24

anm89 wrote: post #23

I'm pretty sure the sign for Deutsche Bank is making a Hitler mustache with your index finger. That's something. https://tradingpithistory.com/hand-signals/participants-cme/...

It even says "Origin Hitler's mustache."

Post by kolbe » Tue, May 11, 2021, 1:35 AM UTC

Someone1234 wrote: post #15

bmmayer1 wrote: post #8

This is still the best (Hollywood quality) depiction of what the trading pit looked like in reality. Trading Places, 1983: https://www.youtube.com/watch?v=RLySXTIBS3c

Although that scene raises questions though: How did the two of them even get onto the trading floor (e.g. What firm were they with? How were they capital backed?). How did they have enough margin to sell that many futures short? Why was the market seemingly only open 20 minutes? I guess the implication here is they e.g. sold 10,000 futures short, then re-purchased 10,000 futures to settle it and kept the difference.…