Super Contango, 不锈钢到期仓单与期限结构之Normal Contango Go To Super Contango For Super Full Carry。到期及划拨注销，本周期的时间节点为11月、12月、01月合计30%，约34951 Ton。本周期也可以算传统意义上的非主动持仓周期… Learn how contango affects futures prices, why it occurs, and how it compares to backwardation. In this article, we’re going to explore what a super contango is, why it happens, and how. variable is used: class A { Закрыт 6 лет назад. Even though this can be a tricky situation, traders armed with knowhow can strategically invest to make a profit. Jun 3, 2024 · Super-contango represents an extreme version of the contango condition, where the futures prices are significantly higher than the spot prices at an unusual magnitude. We got a big-time warning from the oil market earlier in the week. Jun 10, 2024 · A super contango is when the spot price of a commodity shoots up to be much higher than its futures price. In general, the super keyword can be used to call overridden methods, access hidden fields or invoke a superclass's constructor. But the main advantage comes with multiple inheritance, where all sorts of fun stuff can happen. 浮仓囤油 上图则是Contango结构下反套走向盈利的示意图。 我们能够发现，如果反套想要实现盈利，对于Contango结构而言，是需要将平缓的Contango结构变成正常的Contango结构甚至是陡峭的Contango结构。 如果变化的幅度越快，盈利则越多。 Even I am surprised at how quickly this has escalated. Feb 23, 2009 · super() lets you avoid referring to the base class explicitly, which can be nice. We distinguish between normal-, super-, and hyper-backwardation and -contango oil markets using threshold cointegration and regression techniques. Back和Contango结构 Back和Contango结构是期现升贴水的形态。 现货之于期货，其实就是一个超近期的合约之余相比它更远期的合约，因此现货与期货、近月和远月，都适用。 contango结构，是期货贵于现货 / 远月贵于近月 当市场呈现这种结构时，是正向市场。 Contango为金融术语，主要用作名词、及物动词、不及物动词，作名词时指期货溢价或交易延期费，作动词时表示支付相关费用，其英式发音为[kən'tæŋgəʊ]，美式发音为[kən'tæŋgoʊ]。该术语现多用于描述商品期货市场中的溢价状态，反映仓储成本、资金利息及供需预期等因素。典型的contango结构表现 Super-contango Super-contango is a state in which a forward price of a commodity is higher than the spot price to a greater extent than can be explained by the interest and storage costs that explain the usual state of contango. 12, and both Scikit-learn and XGBoost are installed with their latest versions. The problem is that gas is much harder to stockpile than oil, which can be stashed away in Part 1 Full carry的定义与Super Contango结构 在本Part之中，主要是对Full Carry的概念进行大致介绍，以及期限结构中的Super Contango这一特殊现象。 也请读者耐心的仔细思考这些基本概念的重要性，至少对理解最近的玉米会很有帮助。 所以说，当油价大跌的时候，虽然价格很低，但是由于是contango结构，尤其是出现super contango结构的时候，基金在低位是不太敢大规模买入的，因为，roll就会产生很大的损失，每个月都会这样，这也就是美国的USO ETF的收益率低于买入石油股票的原因。 Crude oil’s historic bust has led to a string of losses and bankruptcies for those pumping oil and a windfall for those storing it by prompting a rare case of super-contango. 近期在研究原油，看到有几位专家提到当期限结构形成super contango时，往往是见底的重要特征。原因是，当近月合约与远月合约的月间差足够大，能够覆盖浮仓囤油成本时，有无风险套利机会，贸易商会买入现货，卖出远月合约，锁定利润。这样就达到了供应后置的效果。那么想问一下，1. Sep 20, 2025 · Learn how contango affects futures prices, why it occurs, and how it compares to backwardation. Super contango describes a situation in the futures market where future prices for a commodity are significantly higher than its current (spot) price — much more than normal. This article presents several typical "super contango" cases from traditional markets and analyses the circumstances under which "super contango" presents a risk-free arbitrage opportunity. 浮仓囤油 This article presents several typical "super contango" cases from traditional markets and analyses the circumstances under which "super contango" presents a risk-free arbitrage opportunity. Understand the impact on your investments and strategies. For example, when oil prices hit bottom in late 2008 and early 2009, the market was in a steep contango (or super-contango) with spreads between some of the monthly contracts exceeding $1. For now, I only see it as a hack, but it was worth mentioning, if only for the differences with Java (where you can't chain "super"). But before that, here’s some background on what futures trading is. Whenever we see these things show up, usually there’s a little back and forth, in and out, the thing starts out as Contango and backwardation are terms used in commodity futures markets. Contango occurs when the futures price of an asset exceeds its current spot price, signaling that investors expect the asset’s value to rise over time. Contango Investor Risk Contango creates dangers for investors who trade commodity options for example, as the price may be based on either the spot or the forward price (and if the latter is significantly higher, so will be the price of that instrument). Summary: Contango and backwardation are key concepts in futures trading. Our results demonstrate that SPR releases and OPEC output increases generally decrease inflation, with a crucial exception being the hyper-backwardation market, as seen in 2021–2022. In fact, multiple inheritance is the only case where super() is of any use. This occurs when I invoke the fit method on the RandomizedSearchCV object. This is the first blog of the "term structure trading. I am using Python 3. __init__() в python? super часто используется в классах. Favorable oil market conditions are advantageous, but super-contango episodes are detrimental to the Saudi economy. 上图则是Contango结构下反套走向盈利的示意图。 我们能够发现，如果反套想要实现盈利，对于Contango结构而言，是需要将平缓的Contango结构变成正常的Contango结构甚至是陡峭的Contango结构。 如果变化的幅度越快，盈利则越多。 这是一种陡峭 (Super)的Contango结构， 也是第一种情况的升级版本。 当一种商品供大于求，也就意味着远期商品的库存会更大，消耗库存所支付的仓储费、资金成本等也就更高，所以在价格上表现为远月价格的增量变大，即更为陡峭的Contango结构。 Super-contango creates an incentive for traders to buy gas now, store it and lock in future profits. I suspect it could be related to compatibility issues between Scikit-learn and XGBoost or Python version. When I try to run it as at the end of the file I get this stacktrace: AttributeError: 'super' object has no attribute do_something class Parent: def __init__(self): May 29, 2015 · A diretiva super, sem parênteses, permite ainda invocar métodos da classe que foi derivada através da seguinte syntax. Saudi Arabia's competitiveness and recovery from the 2020 shocks hinge on the recovery of global demand, the speed of the energy transition, and investors' sentiments to invest in the oil sector. Super-Contango Explained Super-contango represents an extreme version of the contango condition, where the futures prices are significantly higher than the spot prices at an unusual magnitude. This scenario often signals a market expectation of a drastic increase in the commodity's price or severe constraints on immediate supply. Dec 18, 2024 · 'super' object has no attribute '__sklearn_tags__'. Jul 9, 2018 · I wrote the following code. I attempted to tune the hyperparameters of an XGBRegressor As for chaining super::super, as I mentionned in the question, I have still to find an interesting use to that. Understanding backwardation and contango helps oil futures traders anticipate pricing pressure, structure trades more efficiently, and manage rollover strategies. Jul 31, 2025 · A super contango happens when the gulf between the future prices and the expected future spot prices of a commodity are widened significantly. metodo(); Isto é útil nos casos em que faças override (sobrescrevas) um método da classe pai e desejas invocar o método original. Backwardation, by contrast, occurs when futures prices are lower than the spot price, often due to expected price drops. This is because the futures price can often be higher than the spot price because the futures price will account for the spot price, plus any costs of carry associated with an underlying commodity. Oil producers, refiners and investors have put a record amount of crude oil into storage at a key delivery point as they try to profit from an unusual form of "super contango" that indicates the Contango is less dramatic to super-contango, and in many instances, it is a normal market condition. We explain how holding exposure with the third futures contract in a commodities allocation can alleviate the typical negative roll yield associated with commodities. 所以远期价格曲线是一个深幅的contango结构，也叫super contango结构。 当时在偏近低点的时候，它的远端收敛价格是80美元/桶，也高于现在的67美元/桶。 Where it breaks down, and where the contango can go unlimited – “super-contango” – like backwardation is where storage runs out. This blog presents several typical "super contango" cases from traditional markets and analyses the circumstances under which "super contango" presents a risk-free This article presents several typical "super contango" cases from traditional markets and analyses the circumstances under which "super contango" presents a risk-free arbitrage opportunity. The one with super has greater flexibility. Super-contango usually occurs when the inventory space to store the physical commodity is running out due to excess supply – meaning that the cost of carry (the cost of storing a physical commodity) in a futures contract increases. Contango and backwardation both describe the slope of a forward-facing futures curve in the futures market. Thus, I am neutral on UNG overall but may become bullish if the contango clears up. 所以在“天时”酝酿之时，一般都是处于Contango结构，而大部分都是处于Normal Contango结构，究其原因，Super Contango期货贴水太严重，而且正是金融资本绞杀产业资本的时候，也正是一个产业循环周期的末端。 Such an extreme premium in forward contracts is referred to as a “ Super Contango ”. super. " Starting with the concept of "full carry" in commodity futures, the author attempts to introduce the logic of "full carry" and "super contango" structure in futures markets. Nov 3, 2015 · The one without super hard-codes its parent's method - thus is has restricted the behavior of its method, and subclasses cannot inject functionality in the call chain. Un ejemplo serían los futuros del oro como activo refugio, ya que los inversores en periodos de crisis acudirán a ellos para salvaguardar su capital y este aumenta. Understanding […] Contango is the primary reason UNG has lost virtually all its value since its inception. The call chain for the methods can be intercepted and functionality injected. When a futures curve is in contango, investors pay to roll futures contracts. I would not recommend using it with classes using linear inheritance, where it's just useless overhead. I'm currently learning about class inheritance in my Java course and I don't understand when to use the super() call? Edit: I found this example of code where super. No es normal una alta diferencia entre el precio de contado y del futuro, pero de suceder pasará a llamarse super contango. Super contango occurs when the spot price for a commodity trades substantially below the futures price. . Learn more about futures trading and what these terms mean for hedgers and speculators. Commonly referred to as a negative roll yield, contango results in a significant drag on index performance. Super contango is an extreme version of a normal market condition in futures trading. Желательно объяснить как можно проще и на простых примерах. Объясните как работает метод super, а так-же конструкция super(). Mwa ha ha. 不锈钢到期仓单与期限结构之Normal Contango Go To Super Contango For Super Full Carry。到期及划拨注销，本周期的时间节点为11月、12月、01月合计30%，约34951 Ton。本周期也可以算传统意义上的非主动持仓周期… 近期在研究原油，看到有几位专家提到当期限结构形成super contango时，往往是见底的重要特征。原因是，当近月合约与远月合约的月间差足够大，能够覆盖浮仓囤油成本时，有无风险套利机会，贸易商会买入现货，卖出远月合约，锁定利润。这样就达到了供应后置的效果。那么想问一下，1. The WTI super contango is back — which means time to prepare for price distortions, offshore tanker storage buildup and the general return of evil hoarding oil spivs. Sep 22, 2010 · super() is a special use of the super keyword where you call a parameterless parent constructor. ivrd, y3hj, 8sej, ouht, yuz9zn, nexn, uqhj, rlxx, u342, m0o1,