From MarketWatch:
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 +0.46% was little changed at $3.448 per million British thermal units.
