Should not September Futures ES/U9 be trading higher then June ES/M9?
Am I missing something?
Futures contract prices are derived from calculating Cash Market and accumulating dividends and taking into account a risk free rate of return.
The Cash Market (SPX) is at 953 even, so June Futures are pretty much trading in line with that, but September futures are trading at a 4 point discount to Cash Market...HMMMMM.
September Futures
June Futures
That Gap between Sept Futures and Cash is wider this morning.
ReplyDelete