Contango
DerivativesA market where further-dated futures trade above nearer ones, reflecting carrying costs.
In plain terms
Why a rolled long futures position can lose money in a year the spot price rose. Every roll buys the pricier contract.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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