A trader opened a $15.5 million long position in crude oil, closed near the liquidation price, with a loss of about $1.3 million.
Foresight News reported, according to MLM monitoring, trader Momo opened a long position of 150,000 crude oil CL (approximately $15.5 million) three hours ago, and closed all positions at market price 13 minutes ago, when the price was only 0.1% away from the liquidation price. This fluctuation pushed the price of CL down to $93.7, about 2.7% lower than regular CL futures. Momo lost $1.3 million in 2.5 hours trading OIL.
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