That's an interesting strategy. I hadn't considered that might be what's going on making the price so volatile.
If I was a futures trader id definitely look into playing it that way--shorting the back month contract to capture the time decay then cover about a month later and keep rolling the trade.
Member mark for an intelligent comment in a sea of chatter.
That's one of the key parts of how Big shorts create this condition. Proof of real covering is when open interest contracts, like it did the other week, and probably did this past week. Dropping open interest means closing, not rolling positions.
'Proof' of the rollover is going on right now.April contract up presumably due to covering, and May (with the rest of the strip forward) going down at the moment.
Hopfully, this continues into UWTI rollover. And maybe for once, I don't have to think about roll decay.
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