4/13/16 was UP +0.18 TO 66.80. That puts the JJJs discount to the component by 0.05. That's running in lock-step. That 66.80 will be 50% of the cash settlement index and with it being on an up-trend, it probably will not be lower tomorrow.

The message?

Keep a couple of JJJs to take to cash settlement. There is very little risk and you may gain enough to buy yourself a
"BIG ORANGE!"

Ka!! Ching!! times 4. Three long K/M spreads just turned green and one short V/Z. Some of those K/M spreads have been around for a while. The paint finally dried, ITZ.

Now I can reload a little but still have plenty of other spreads looking for a home.

Best wishes,

dhm