I’ve posted the June recap report, as well as updating graphs for month-end prices, price changes between May and June, and tables showing volume and open interest over the last five years. All reports, graphs and tables are in the REPORTS section of this website.
On balance it was a quite month with limited quote updates (with the exception of traders in CHI and SDG).
One bright spot is that bid/ask spreads converged back to levels from a few months ago. Spreads are tighter in all 11 regions and in 10 of 11 expirations. Much of that tightening took place in the Q15, Q16 and X17 contracts. The Q15 front contract is now at bid/ask spread levels seen when other contracts had two months to expiration.
The CUSX16, and now X17, contracts are carrying their weight as benchmarks. I’ve used the 2-point bid/ask spread in the CUSX17 contract as a leg in intercity spread quotes – which is part of the reason that X17 bid/ask spreads have come in so much.
The other ray of hope is that the number of inquiries for information on the contracts continues to climb.
Please feel free to contact me at firstname.lastname@example.org if you have any questions. (I’ve switched servers so hopefully fewer tech issues going forward.)