12/5/14 was up 0.01 to 88.30. With the ZZZs now trading at 87.075 the ZZZs are discounted to the component by 1.20. Usually this close to expiration the "Big Boys" get the futures priced about right so there is a good chance that the Index may back off a little but we still have the more expensive hogs packers purchased on Friday to come to market.

It looks like the trading gremlins are going to take back some of the gains I have tucked away on the short Z/G spreads. It works that way some days.

Best wishes,

dhm