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you know I always end up finding most information in relation to rates , and spread trading in like treasuries and eurodollars... as i think the largest and most sophisticated spread trading goes on in this

I don't think it translates directly such that you can make an expression that is essentially "long" volatility.. for one the entire curve can flip and go backwards throwing a curve ball. The only true way to think about it in terms of options volatility would be if you could trade options...

no one said anything about volatility , but me.. i was just bringing it into the conversation... Obviously the farther you get away from the front the vol goes down in a general sense.. but i was curious how one would define volatility in any respect relative to this kind of trading... take for...

treasury and equities no long accurately represent "read" goods. commodities have a higher level of tangiblility and read substance to them in which tons of cheap money hasn't been baked into.

like the TUT spread?

here is a question.... if your in the front month spread in some fashion.. what defines if your long or short volatility.... most vol is up with crude as seen with options call skew.. but not necessarly, as vol can go up with the underlying going down... so how can you even trade the front...

That is definitely the front!! I in an absolute sense stay away from the front two contracts... First three months really

Yes but define front

while in certain respects i agree with you , in others i think your going off in another direction... i'm not looking to trade spreads in some directional fashion.. This is pure dislocation between expiries.. This is not watching zm's and looking at the direction they are trading... this is...

Unfortunately you then implicitly believe income inequality can be controlled by the government apparatus.. Which has the contrary effect

I stoppped taking anything into consideration when you said leninism.....

Monetary policy is a price distortion to fundamentals....

Von mises explains the credit cycle well to me... I've not read Ricardo.... Since i've started reading economics i've sorta of blindly read all things Austrian i will admit

I will follow your journal .. but i'm not sure how you derive how one zm would offset six inside gh's ... This is a broader view on the relative slopes of the curve then i was expressing.. and i could see this making sense in certain situations, but if one contract is out of line in relation to...

Wh Ahh I see.. I didn't understand you...by 1x3 you mean 1 wide spread against three inside spreads... I've never looked at 6 month against insides... Are you saying 1x6 is one six month wide zm to a inside 1 month fly or just a inside cal

That is super cheap... Round trip for me on one fly is almost .02 cents on the trade...

Ya but that puts you outright in two contracts with the 1x3 ... That's alot of leg risk to me idk... Why take that much directional risk in entry.... This art of legging has its own specialization in itself and can be considered a trade in itself almost....

Obviously the more you pyriamid around the out of ssync month the more you isolate that kink from price direction in general... Although a 1331 is the threshold for anyoen I would think with retail commissions... As once you go out further in Pascals triangle 14641 you end up with exponentially...

Ahh leg the inside then out.... I'm sure your seeing vxzf17.... Double fly comes from Eurodollars wheree it I ls excahnge supported...

We have all evidence that the economy goest to complete crap when the gov controls it!