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ES Mini 5% circuit breaker=free money?
I noticed that tonight the ES mini hit 1999/-5% and this triggered a circuit breaker. I also noticed that 5% is the max the ES can go down overnight until the cash open according to CME rules. If this is so then how come anyone would sell at 1999/how come everyone did not buy at 1999 as it would be 100% reward to risk ratio as the ES is now trading at 2033 three hours later. Am I missing something? Any help would be greatly appreciated as I cannot seem to find the answer anywhere using Google.