It seems to be that way. I've tried to derive some benefit using $prem with futures but can't find a way to profitably use it so far. savage
I'm also looking for a way to use it in my trading. It seems like it should help to identify overall current market conditions so I keep on watching it. I thought i might get a feel for recognizing when the programs kicked in, and how the market responds after they kick in. I've tried using a line chart and 3 period ma on the prem, to see how long it stays high or low, or if extreme levels signal anything.
has a big opening up or down ... can that indicate the market will be bid up or offered down for the first few minutes until the $PREM returns to fair value ?