Post by
Mat1791 on Apr 28, 2020 1:56pm
Some Numbers To Think About...
N/A = $30,666,517
O/S = 68,403,690
NAV= $0.4483
All at the close of yesterday the 27th
Today, current
July2020 = 17.83 down 1.4%
Sep2020 = 23.77 down 0.3%
Current NAV = $0.442
Rollover from July to September 2:30 today (in a half hour)
33.3% decay, so, after rollover (not 100% sure, but based on the last roll over)
N/A = $30,666,517
O/S = 91,182,118 (decay factor)
New NAV = $0.336
Current Price HOU = $1.11
Projected Premium after rollover = $0.774
Something, at some point, will have to give...
I don't think it will be Sep2020 futures hitting $78.68??
Comment by
timetolearn on Apr 28, 2020 2:47pm
this rally is prob either the "dumb" retail going long OR the "smart" shorts covering. Not surprised some thinks given it will be based on Sep contract and no longer announce when they roll as a huge, those 2 change are hugely positive. For me, it still does not justify a ~$0.60 premium on a $0.44 NAV.