"crack spread constructed with front-month crude and second-month products"
It looks like you have a little calender action going in which the oil short (front month) expires before the long products (second-month). Does this leave you naked the second month and expose you to more than you originally intended?
Crack Spread 'Yes' Futures 'No' [View article]
"crack spread constructed with front-month crude and second-month products"
It looks like you have a little calender action going in which the oil short (front month) expires before the long products (second-month). Does this leave you naked the second month and expose you to more than you originally intended?