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Contango is a situation in which the futures price (or forward price) of a commodity is higher than the expected spot price of the contract at maturity. [1] In a contango situation, arbitrageurs or speculators are "willing to pay more [now] for a commodity [to be received] at some point in the future than the actual expected price of the ...
The opposite market condition to normal backwardation is known as contango. Contango refers to "negative basis" where the future price is trading above the expected spot price. [3] Note: In industry parlance backwardation may refer to the situation that futures prices are below the current spot price. [4]
The concept started to be used by oil traders in the market in early 1990. [2] But it was in 2007 through 2009 that the oil storage trade expanded. [6] Many participants—including Wall Street giants, such as Morgan Stanley, Goldman Sachs, and Citicorp—turned sizeable profits simply by sitting on tanks of oil. [5]
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In general, no corresponding formula exist for American options, but a choice of methods to approximate the price are available (for example Roll-Geske-Whaley, Barone-Adesi and Whaley, Bjerksund and Stensland, binomial options model by Cox-Ross-Rubinstein, Black's approximation and others; there is no consensus on which is preferable). [1]
This pattern of falling prices is known as a contango. Figure 3.10 depicts these price patterns." Financial Lexicon, Banks, Palgrave MacMillan, 2005, p. 76 "CONTANGO A market state where FUTURES prices are higher than expected SPOT prices and decline as contract maturity approaches." Difficult to pick a user name 10:48, 22 May 2008 (UTC)
Virtua Formula was released in 1993. It was unveiled at the opening of Sega's second arcade amusement park Joypolis, where a whole room with 32 machines was dedicated to the game. Virtua Formula was effectively a "super DX" version of V.R. and the player sat in a full-motion hydraulically actuated Formula One car 'replica' in front of a 50-inch ...
Formula Dé: Mini is a simplified version of the original game, similar to the Rules for Beginners of the Asmodée edition, that reduces the cars' statistics to one pool of “wear points” instead of the original game's six. The two race circuits are also half the size of the original ones, and are imaginary layouts as opposed to real-world ...