CFA text says if future price above spot price investopedia says When the futures price is above the expected future spot price. are those the same thing?
expected spot price is normal contango…
F > S = Contango F > E(S) =Normal Contango
how about backwardation and natural backwardation?
cpk had a great post about a 3 weeks back about contango / normal contago backwardation / normal backwardaiton…search for it.
F < S = Backwardation F < E(S) = Normal Backwardation
ALWAYS trust wiki