what keeps different months in sync at low volume?

Discussion in 'Financial Futures' started by scriabinop23, Jul 25, 2006.

  1. ie. watch overnight natural gas -- very low volume -- only a few contracts here and there, but all of the near due months are generally in sync with the same amplitude of movement. What explains this? Does arb even work at such low volume and large spreads?
  2. Maybe most of the prices are implied from the calendar spreads?