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I recently closed some ssf positions, and I noticed something I don't understand. Why did the sale go through with the SSF price lower than the Underlying price? As far as I understand the SSF should always be higher than the underlying?
I've a dividend falls within the contract period, the SSF price will be reduced by the expected dividend amount. This may cause the SSF price to be lower than the underlying. Reason: SSF holders do not get the dividend payment.