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May 27, 2020 at 7 am PST. The June contract is going off the board. The low was $1700 on the June contract. The August contract started at $1725, which was a huge gap. There was an arbitrage opportunity to short the August against the June. You would sell the August and exercise the June contract.
The price rose to the Variable Changing Price Momentum Indicator (VC PMI) Buy 1 level. The market then came down and filled in the gap. It made a low of $1701.6. The market then reverted from that level,