Accutic alerts provide a quick means to monitor spread activity as the open interest flows from the current spot month to the deferred. Currently that involves the June (spot) contracts being offset and re-established in September. As you can see the open interest is still mainly in the June contracts, however by the end of tomorrow's session the September contracts will probably have more liquidity. Friday morning the September futures will be the lead contract month and all hedging activity will flow directly into those contracts. As can be seen spread ranges have been fairly narrow so far with no real trend developing overall. Some feel spreads should widen as funds are mainly short the June futures and thus will need to buy June and establish a short in Sep. We shall see. For those that looked at yesterdays play, long position was stopped out, however market may see some upside today. Call for more. To monitor these and other flows go to www.accutic.net and upload the alerts.
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05/27/2009
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