Z/G spread @ 3.525. Now to see if it treats me well.

Historically, before this year the highest the spread had ever been was 3.575 on 12-7-04. On 6-30-08 the spread dipped all the way down to -9.00. Only once in the past eleven years has it expired in positive territory and that was in 2004 when it went off the board at +1.155. The average expiring price over the past eleven years has been -3.205.

Historical data often doesn't mean much. It is the here-and-now that counts. This year we are seeing lots of old records fall due to the PED virus. So far this year I have made good money selling the Z/G spread but covered the short spreads in front of the H&P report. Am just now getting brave enough to dip my toe back into the water.

Best wishes,

dhm