Diterjemahkan otomatis dari aslinya · Baca versi asli (English)
Saya mencoba memahami contango dan backwardation dalam futures WTI, khususnya bagaimana para trader benar-benar menggunakan informasi tersebut di luar sekadar mengetahui struktur pasar. Apakah kalian benar-benar memperdagangkan spread atau hanya menggunakannya sebagai konfirmasi bias arah?
It's definitely used for both. Beyond just confirming directional bias, a lot of traders will absolutely structure spreads to capitalize on contango or backwardation, either calendar spreads or even more complex inter-commodity spreads if other related products are misaligned.
For many, it's primarily about spread trading, specifically calendar spreads. If you believe the market is overstating future demand or supply, you can profit from the shape of the curve correcting. Directional bias is a component, but the curve's shape itself offers more nuanced opportunities.
It's funny, every 'newbie' asks this. Many are indeed trading spreads – the ol' roll yield – but some certainly use it as a directional hint. If the market's paying you to hold, it's probably feeling pretty good about the future, right?
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