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Posted by Tango
on May 29, 2019, 9:37 am
Outright volume consisted of 65% in July. The total is considerably less but many of the spreads were a result of forward outright activity. The OI is higher due to new spreads EFP/EFS and possibly the block trade. But the July imo tells the real story of what is going on in the market. It is down which means short covering and long liquidation. The July OI is still high at 153,979 with a few days before the roll begins. Shorts need to roll but the expectations I donít think are as high as what reality will be. The market is steady but frozen. The depth of market is thin on both sides with the exception of continued volume at the handles. 3.996 -0.0283 (-0.7032%) and USDCOP is 3380.76 +6.16 +.18%.