2/18/16 was unchanged at 66.40. The sell-off in the JJJs has closed the"Gap" to 2.82 with the JJJs premium to the component. I believe by the time the JJJs go to cash settlement they will be somewhat higher than they are now. In the meantime, though, they will probably drift quite a bit lower because of the firm supply and weak demand as indicated by the weak cutouts.

I think Dewey is loving today and there was a school of fish biting on the south end of the pond. I have been loading my boat with a few bull spreads.

Best wishes,

dhm