August WTI Crude Oil futures expired at 230pm today... a fact that has been known for years... and yet, in the minutes before the 'last trade' settlement, the 'efficient' markets in which traders trade saw August futures flash smash higher by over $1 (running stops to the upside) and then crash to the day's lows (running stops to the downside) before closing modestly lower on the day.
As Nanex shows this was all about the expiration... as only the August contract was affected...
[4]
As the machines ran stops top and bottom of the day...
[5]
* * *
"unrigged"
