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Ontario's middle east | Dec is zeroed on the left axis, then the option months are plotted with their respective spreads. (These are shown at the roll.) The red numbers are the basis, but it is zeroed from the respective black option month line.This lets you graph adjusted basis because the spreads are compensated for. The green line is a value line drawn to indicate how much basis appreciation ( or in the case of an inversion, depreciation ) can be expected. | |
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