Prices Converge on the Premium to Nov

Weekly Continuation

Prices did not close the expiration gap but dove into a large chunk of the premium afforded the November contract. The declines fell short of the expiration high at $2.32 and nowhere near the October expiration at $2.101 nor the high of expiration day at $2.176

The November premium began to reduce as soon as October was off the board, even though prices closed the gap from November ’19 on the first day as prompt. From there November contract traded an “outside” month and closed below the November contract August low and its 20 – week and 200 – day SMAs.

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