Thanks for the idea. Can you help me understand the "undervalued" part?

The fund holds 12,478 contracts of CLF7 and has a total net asset of $787.9MM (http://www.unitedstatesoilfund.com/uso_holdings.aspx)

And its market cap is $54.58 X 14,400 = $786MM, just slightly below net asset value

Seem to me this fund is just a bet on the movement of the near month future. ???

Could the widening gap be that the fund was trading above NAV originally but the premium over NAV gradually disappeared?  Just guessing.

[此贴子已经被作者于2006-11-30 19:07:48编辑过]