At 13:21:15 this afternoon, as the Dow Transports was pushing towards its record highs (for the first time in 2 years), S&P futures and the SPY ETF suddenly exploded in volume and ramped higher.
In those few seconds 2 million SPY shares went through (around $450 million)…
and 32,000 e-mini contracts (around $3.5 billion notional) screamed through the markets…
Some context… That’s a record!
$3.1 Billion worth of S&P 500 futures traded between 13:21:14 and 13:21:15 ET. That's a record (excluding open/close) $ES_F
— Eric Scott Hunsader (@nanexllc) December 7, 2016
"So, I was just plugging along, picking up steam, when <<<boom>>>"
— S&P 500 futures liquidity $ES_F
Black line = today pic.twitter.com/SD9w2nVSJW— Eric Scott Hunsader (@nanexllc) December 7, 2016
A reference point: W&R sold 75,000 over 20 minutes, and the first ~35,000 supposedly caused the flash crash (wink) https://t.co/yipgWOMvOS
— Eric Scott Hunsader (@nanexllc) December 7, 2016
Nothing to see here, move along.
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