Has anyone else noticed how crazy it is right now in the November nat gas calendars? Nov/Dec, Nov/Jan, Nov/Feb all have 140 tick daily ranges whereas the Dec/anything, Jan/anything, Feb/anything seem to have their normal 30 tick daily ranges! i know the winter strip started and people must be rolling into it (i've heard the start of summer strip was a crazy as well) but it's been crazy? Does anyone have any good reasoning for this? Could it be something with the Nov outright in particular? Thanks for the help and here's to hoping that the cal spreads stop trading like the outrights soon!
There were news reports calling for a colder-than-normal Winter and higher-than-normal heating bills today. Gas utilities are mailing out fixed-price literature to customers, a sign of a near-term top in the market.