RE:Backwardation CVE - confidence buying backWhile i can appreicate the math you are showing, reality is that the hedges to day are what they are..and were put in place for insurance purposes..now we all agree the insurance was not required..however, if all youre getting out of a hedge buydown is a very nominal amount of cash, may as well keep the insurance in place in case the market reverses on you...can you imagine how silly theyd look if they took out hedges now and in June NG drops like a rock? I'd just let it ride based on a weighting of the pros you illustatrated and the cons of getting it wrong again