Even after calculating the time lag still very much appreciated
NATURAL GAS INDIA SPECIFIC MOVE ?
Probably time to short
Based on the current pricing:
- NYMEX settlement = $5.485 / mmBtu
- RBI USDINR = 91.5
Raw conversion
5.485×91.5=501.87755.485 \times 91.5 = 501.87755.485×91.5=501.8775
So,
Raw converted price = ₹501.8775 / mmBtu
January contracts of Nat Gas are now priced to perfection. The lag which was there for last few days might have been covered fully.
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I used to track the CFD of natural gas in order to get an estimate of the price moment. It used to work. But what happened today? (I did take the timings into consideration)
Was there any rollover yesterday in NYMEX ?
This is the ticker
I’m still trying to understand the same. What really happened. Usually it mimics CFDs
Maybe it got something to silver/gold India specific crash yesterday…
Most likely, futures got oversold. now the backwardation is fading, so spot prices are dropping to normalize and futures are climbing back up to close the gap.
But we don’t have spot prices in natural gas, right? Usually the CFD is pegged to the present or near month futures right ?
Or am I wrong ??
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