Contango:Contango is a situation where the futures price of a commodity is higher than the spot price. Contango usually occurs when an asset price is expected to rise over time. A contango market is also known as a normal market, or carrying-cost market. That results in an upward sloping forward curve. In a contango situation, arbitrageurs or speculators are "willing to pay more [now] for a commodity [to be received] at some point in the future than the actual expected price of the commodity [at that future point]. Contango is thus a bullish indicator, showing that the market expects the price of the futures contract to increase steadily into the future. Therefore, the Contango charge is one paid by a bull spectator to a bear spectator. Bull Spectator: A bull considers the market to be bullish. A bull market is the condition of a financial market in which prices are rising or are expected to rise. Bear Spectator: A bear is an investor who is pessimistic about the markets and expects prices to decline in the near- to medium term. ??Lame-duck is an out-of-use term used with reference to a trader who has defaulted on a debt or gone bankrupt due to an inability to cover trading losses.