Yesterday I entered RBF21-RBK21 at -1560. (i.e Sold RBF and bought RBK)
The season according to MRCI is from 30 Sep to 06 Dec. In the last 5 years the exit price ranged between -19.17 to -28.48 at 06 Dec.
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Very interesting. I suspect Gasoline demand comes under pressure again in the next three months as virus fears and prevention measures increase again. (NY just announced schools closing again and going online effective this weekend!).
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This is how my trade went:
12 Nov Sold RBF1 and Bought RBK1 @ -15.60
19 Nov locked-in profit @ -16.93 in anticipation of a temporary retracement.
Result 1.33 profit
20 Nov Re-entered @ -16.01
01 Dec Exited trade @ -17.20
Result 1.19 profit
Total profit 1.33 + 1.19 = 2.52
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