12-11-19 : Short NG K/N @ -0.105. - The widowmaker is really low for this time of the year, dragging the spring spreads to teh downside. - Storage levels back to 5 year average( were much lower a year ago ). - Huge production growth from shale plays last year and Appalachian producers have send-or-pay contracts with pipelines, so they have to produce. - Seasonals.
01-21-20 : Long Brent Z20/Z21 @ 2.17 - The 2021 expiries have flattened too much compared to the 2020 expiries in the last leg down. - Brent is where the geopolitical risk is and IMO this risk is undervalued now. -The current level is the previous july and september highs( hopefully turned support ). -Seasonality.
Hi, Loving the content here. Does anyone have recommendations for a US based FCM/broker who knows how to properly margin calendar spreads. I heard back from a couple but at $10 per contract per side it seemed steep, I am based in UK.