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I understood him to be long the spread and didn't mean to imply otherwise. What part of my comment gave you the impression that I thought he was short?

I think the ship may have sailed on this one. The UNG front-runners will take their profits by unwinding into the UNG roll. Depending on the volume in this trade compared to the volume of the roll, the spread may not move much more. I think it has run up from .1 to the .2 range in the last...