Hi Yes I know what is a dividend and how it works if we only have in consideration the stock because is, almost, the same thing to have a stock with higher value than having it with less value but also cash. What I tried to understand was the moviment of the future compared to the moviment of the underlying and try to find differences. But yes, the future dte=150 will be 102 at the end. Don't know what the __i was thinking. It is no possible to capture the dividend with this strategy. For my part there will be no more questions on this subject. Thank you for the explanations.