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To: RJL who wrote (8388)3/17/1999 12:17:00 PM
From: Gersh Avery  Read Replies (3) | Respond to of 99985
 
Hi Richard

Prem (premium) is the difference between the cash value of the S&P500 and the price of the S&P500 futures. The reason for the jump in the value of prem is because they just changed the futures contract they base the prem value on from the March contract to the June.

From one day to the next you see a slight fair value decline because of the time degradation effect of the futures contract.

Did this take care of your question?

Gersh