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Futures Roll Return
I'm confused here and I need help. Let's assume I am buying 3-month VIX futures and rolling it every month. Right now 3month contract is trading at $25 and 2 month at $20. The futures curve has been static after $30 days. So my thinking is as I close my long i realize $5 loss on long 3-month contract (now 25), -16.6%. So is this my roll yield? Or do i realize the loss when I buy the new 3-mo contract @$25 again, $5/$20, 25%? Thanks,