If the difference between the futures and cash is a negative like it is now, usually (or at least used to be) referred to as "negative premium"... still maintaining the "premium" moniker by convention. Years back when interest rates were higher, the futures traded at a premium over the cash. (If interested, I'll introduce you to my wife. She also likes to argue minutiae)
The major downside to consider with the continuous futures is that you can have no control over the future events coming, any sort of price fluctuations and the possible reduction in the asset prices, especially when the expiration date keeps coming closer. So, you have to be very alert with the market if you are into the continuous futures.
What is up with these captain obvious posters in the last day with one or two posts. It seems someone is testing out a bot of some sort on ET, but to what end?
on the contrary, I'd love to meet her. And then after that, who knows......... but it doesn't change that he was right. Locals used to refer to it as premium and negative premium