artie..wouldn't you want to be short or out ? I mean you could say that the weekly is at the top of a "cycling" action, and the daily has clearly rolled over. I would think that the price action would trump the "backwardation" factor especially since its so far out and there's no volume (mar14) V=322 ? The average daily range for the past 5 days is .05 cents, I think with .08 being the biggest so a .09 cent stop loss would be close to making a new high indicating the downward action was just a pullback. The question would be whether the risk outweighs the potential reward.

TIMWAR