Good Morning,
TradeBook had a substantial rally position during this holiday week, finding itself up nearly $8 million and extending its string of winning weeks to six straight.
Recap
Position-wise, the book is longer by being less short, week-on-week. Most of the short position is found at NP15 leaving the other three hubs net long On-peak. Off-peak also ended up longer by being less short, and like ON, the short position is at NP15. Interesting, because NP missed yesterday’s HL Day Ahead party:
On that peak hour, 20, NP cleared 67% lower at $66 vs. $180. Not that the forwards will reflect that cash spread, but glad the short wasn’t at SP. Today and tomorrow will bring the heat the longs have been long longing for but, alas, it is short-lived, just two days.
[render_email_report name=”TradeBook – Speculative” date=”2018-07-06″]