Just wondering, the announcement to change from June 2020 to Sept 2020, have they updated their NAV for that?
The WTI curve is in huge contango and the roll cost to do that is HUGE.
For example if the fund was $1,000,000 in AUM, it would own 70,422 WTI Jun-20 Futures ($14.2). Now to sell that, then buy 38,270 Sept-20 ($26.1) Futures means you have suddenly incurred a loss of 46%... So why is the price up 10% right now??
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