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Message:: [QUOTE="masterswimmer, post: 26670534, member: 102022"]I'm not worried about the intra nor inter day price today. I do have a major concern regarding future sales though. While the spot pricing recently touched the low to mid $120's, the offer price to sell (discount to spot) was running anywhere from 5% to about 13% back of spot. That was while intra day swings were 5% to 10% either way. Those are big swings, historically. Caught on the wrong end of that swing could cost a dealer some sizeable losses. Most dealers either stopped buying during those severely volatile days. Here's my fear.....With today's intra day trading range at ~31%, the fear of a massive loss after a dealer makes a purchase became very real. If prices do recover and return to the $115-$120 range will dealers still be willing to offer 5% to 13% back of spot? Or will they begin hedging their offer prices even more back of spot to protect themselves? Even with a bigger spread they are leaving themselves very exposed after today's realization that spot can potentially drop 40% or more in one day. I think our stacks became a little less liquid today.[/QUOTE]