ARTICLE SYNOPSIS ...Using Spread Orders To Roll Forward by Csaba Radnoty Most futures contracts have a delivery mechanism that involves the exchange of physicals for cash. Understandably, few traders want to deal with the delivery process. To liquidate positions nearing delivery and to establish new ones, traders use spread rolls, a technique used when rolling forward to a new contract month. Most speculators prefer trading futures contracts that have the greatest amount of volume and open interest, which provide the greatest liquidity. Usually, it is the front month that meets these qualifications. As the contr...