kickthatcfa

Hi cpk123,
I mean to understand this scenario - there will be costs involved in rolling the contracts. Taking the data given in pg48, if i am long futures in april 200X (T=April 200x) for contract expiring in June 200X (long price - 39.10).
Now how does my positions acquire roll yield? do i need to sell the contract and buy again? operationally how does it work?
Or, is it just that i buy and hold. In that case, the market price of my long position has increased to 40.58 (without any buy/sell). Thats like capital appreciation. Why is it called roll yield (new term?)
I am missing some point here. Please clarify.
TY.