Forward price for the underlying product are: YO Y1 Y2 Dec Mar. June. Sep. Dec....

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Forward price for the underlying product are: YO Y1 Y2 Dec Mar. June. Sep. Dec. Mar. June 3.2 3.275. 3.427. 2.95. 3.022. 3.094. 3.168 suppose sep FP fall to 2.9 in year one and no arbitrage from sep year 1 and onward. Is there an arbitrage you could undertake using forward contract from June year1 and before

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