Nov Shows Mild Strength in Early Trade as Prompt

Weekly Continuation

The expiring October rallied from $6.456 to $6.901 before going off the board at $6.868. This was the third highest expiration this year but $2.485 lower than September. The average settlement for ’22 is currently $6.783.

For more than a year and a half expiring contracts have rallied before going to settlement, discussed here nearly every month, October did so, but the substantial decline to an expiration day low (also the low for October’s tenure as prompt), before that rally suggests a departure from the long – standing pattern but not necessarily the trend.

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