Currently sitting at +0.04 and has been trending upward, indicating either high demand for physical silver, or people just unthinkingly piling into the nearest expiry futures contract (probably hit of both).
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Gave in to temptation. Silver futs obviously up but what’a more interesting is the basis (Mar delivery minus May delivery) is positive — for the last thirty years it has been between -0.2 and 0 except for a couple of periods of stress in the physical silver mkt.
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Obvious trade here is short Mar futures long May futures.
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I know you love charts so here is a chart. Okay stopping with the discretionary calls now, back to letting the beep boops trade for me.pic.twitter.com/TloUhAevZX
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End of conversation
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