Strategies & Portofolio Construction
Time Spreads
We trade the forward curve across maturities.
Seasonality, inventory cycles, and commercial flows shape the term structure.
Shifts in carry and deliverable supply drive dislocations across steepening, flattening, and inversion regimes.
Location & Quality Spreads
We trade basis and quality differentials across geographies and delivery points.
Freight, logistics, and localized constraints fragment markets.
Shifts in flows, logistics, and deliverable supply drive dislocations across widening, compression, and fragmentation regimes.
Volatility & Correlation
We trade single underlying and spread options.
Implied distributions embed structural distortions across skew, convexity, and term structure.
We position where realized dynamics diverge from priced risk, across single markets and cross-commodity relationships.
"Edge is not only in individual trades, but in how they interact within the portfolio."
