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I can't see a clear pattern... In general speculators run for the far month
on the First Notice Day so that they don't get delivered upon!
For March and June this year the FND was the 3rd Friday of the month before.
However, for Sept and Dec the FND is the 5th Tuesday of the month before -
go figure!?
If anyone knows the answer then I'd be interested
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Ben Tristem BEng (Hons)
Private Derivatives Trader
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