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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.
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).
Obvious trade here is short Mar futures long May futures.
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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