Using the most recent example, the NG Nov '17 contract expired on the 27th of Oct @ ~$2.75 while the Dec '17 contract was @ ~$2.95 on Oct 27th. There was basically a $0.20 gap between the spot and the expected delivery price 4 weeks into the future, so that would imply that the spot/Dec contract would eventually converge by Nov 27th. Based on this, it seems to be really obvious to long the spot price and short the Dec '17 future, but that's not the case right? Even if I wanted to long spot price, is there any way to do it? AFAIK, you can buy the Nov contract, but once that expires, you immediately roll over to the price of the Dec contract after. However, when there are these huge gaps between spot price and current month, I feel like there has to be a way to exploit the gap, but I'm not sure how I would structure the trade in order to do so. Anyone have any ideas on the subject?