Futures Roll and Contango

Why holding futures differs from spot through time.

4 Lessons8m total

Futures expire; continuous exposure requires rolling to the next contract. Contango means later contracts trade above spot; backwardation the reverse.

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Course Overview

Why holding futures differs from spot through time.

What You'll Learn

✓Core concepts explained with market context

✓Practical examples tied to real instruments

✓Risk-aware framing — educational only

✓Next-step links across the VegaDeck curriculum

Futures expire; continuous exposure requires rolling to the next contract. Contango means later contracts trade above spot; backwardation the reverse.

Roll costs erode long commodity ETF-style products in persistent contango. Crypto perps use funding instead of calendar rolls.

Model carry before comparing futures returns to spot buy-and-hold.

Educational only · not investment advice · Risk disclosures

Curriculum

3 Lessons · 24m

1Vega: Volatility Sensitivity (Options Primer)Why the VegaDeck brand borrows a Greek letter.8m▢

2Futures Roll and ContangoWhy holding futures differs from spot through time.8mContinue Learning

3Gamma and Spot: A Conceptual LinkWhy dealers hedge and how pin risk appears near strikes.8m▢

Course Resources

↗BabyPipsbabypips.com ↗Forex Factoryforexfactory.com ↗CoinDeskcoindesk.com

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Educational only · not investment advice · Risk disclosures