I think they see what's coming and are going to try to smash the price before/on that date. The vault might be drained, but they're still contracts. Those contracts settle the price on the date no matter what's in the vault. The strategy might be loss minimization. Draining the vault at $40oz is less of a loss than $120.
I think they see what's coming and are going to try to smash the price before/on that date. The vault might be drained, but they're still contracts. Those contracts settle the price on the date no matter what's in the vault. The strategy might be loss minimization. Draining the vault at $40oz is less of a loss than $120.