WTI crude may 20th

[MGB]

Hi, I have a few open positions for the May 20th US light Crude, which is due to expire April 20th. right now the price for May is around 18dlr. I believe my positions will be closed and rolled over to the next contract either today or Monday 20th. But June contract is around 25dlr now. So how will the roll over work? Do I stand to loose out here or will it better for me take my losses today and take new positions for June or July? Loved to hear thoughts. Thanks 

[Guest paul1956]

just cut your longs there is no way oil is going higher in the next 60 days other than a moderate short covering bounce ( perhaps ),grinding lower would be the most likely but yes you will be long at the June futures prices .

if spot oil is unchanged over the 60 days you will lose about 6 buck per contract