RE:RE:Here, read this as your education lesson of the daysupernova wrote: I already know what backwardation is otherwise I wouldn't have mentioned it. Yes we are currently in CONTAGO mode, but once we get past $28 we'll be in BACKWARDATION.
As Ufoolme has tried to tell you, you dont understand at all!
Try going back and reading some posts over the last few weeks, your answers for everything is their.
We are holding Sep2020s until further notice, at the latest beginning of August. The only way backwardation will occur, is if the contract we move to, let's say Oct2020s, need to be priced lower then the Sep2020s, at the time of rollover, for backwardation to occurr.
Jun, Jul, Aug2020s contracts mean nothing to us. Our starting point is September onward.