Seems like a lot of volatility which was why it was suggested to get out of Oct as some folks are being whipped around and the action is far to risky for this analyst. My suggestion is let the “kids” play but focus on November as the differential will need to addressed to some degree. Not saying the premium has to close (2009 the spread did not close until late winter ’10) but there may be some weakness after the expiration process.
Major Support: $1.864-$1.852, $1.768-$1.70 Minor Support: Major Resistance: $2.162-$2.18, $2.275 Minor Resistance:
