5/8/17 was +$1.22 and the model projects that the component on yestereday's kill will soar between +0.90 and +1.20. The KKKs settled premium to the component by 4.60. We get five more days of date to get to cash settlement. The model projects that it will take and average daily gain of +0.93 to close the "Gap". The average daily gain over the past five days has been 1.08. It now appears that the KKKs are appropriately priced and there is little reason to go to cash settlement long or short.

The MMMs may be a different story. The "Gap" there is 12.07 and that may give the model something to work with in a couple of weeks.

It looks like today I will mostly be taking care of a boat load of calendar spreads.

Best wishes,

dhm