Finding it increasingly hard to get excited about markets where this kind of thing doesn't happen...pic.twitter.com/lXkF2suUkc
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If you see a basis trading at +50bp then what you *hope* is that it goes to zero or -ve quickly so you can take the trade off and redeploy capital elsewhere, but your backstop is to hold to expiry (ie you want to earn the spread quickly but will settle for earning it slowly)
The silver fut basis is not quite like that because it was between two fut contracts (Mar/May iirc) and there is nothing that guarantees they will converge (they will both converge to spot individually, but don’t need to converge to each other before the first one expires)
