Yeah it's a bit confusing. As you get closer to the excise date the gap will close up generally for basically two reasons, you don't have the time gap which was once there for option investors who were paying a premium for this but also able to buy more exposure in AW1 in this instance than if they bought the mains and secondly, because option investors have to find the money to excise so selling to be able to do this.
Yeah it's a bit confusing. As you get closer to the excise date...
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