id: PRICING-002
title: GLD/GC=F Basis Display
status: backlog
priority: P1
size: M
depends_on:
  - PRICING-001
acceptance_criteria:
  - Overview page shows both GLD implied spot and GC=F adjusted for comparison
  - Basis indicator visible with threshold-based coloring (green < 25bps, yellow 25-50bps, red > 50bps)
  - Warning displayed when basis exceeds normal bounds
  - After-hours pricing gap noted when GLD is stale vs GC=F
  - Display "last regular session close" vs "current futures indication" where appropriate
notes:
  - GLD only trades US market hours (9:30 AM - 4 PM ET)
  - GC=F trades 23 hours/day, 6 days/week
  - Contango is typically ~$10/oz, causing GLD to appear at "discount" vs GC=F/10
  - During stress (backwardation), GLD can appear at "premium"
implementation_hints:
  - Add basis calculation to price display logic
  - Use GLD price / GLD_OUNCES_PER_SHARE for implied spot
  - Use GC=F - contango_estimate for fair value comparison
  - Consider adding a small info tooltip explaining basis