United States Natural Gas Fund LP (UNG): The November-December spread typically t...

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benfrankledger

Re: msmithgold post# 2312

Monday, 11/20/2017 7:16:25 AM

Monday, November 20, 2017 7:16:25 AM

The November-December spread typically trades at a wide contango. Contango is a condition where the deferred December futures price is higher than the November price.

The spread was trading at a differential of between 10 and 15 cents per MMBtu because the roll represents the time of the year when injections into storage turn to withdrawals.

However, upon expiration of the November contract, the December natural gas future declined and gave up all of the premium in just two days.

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