But the current and next month expirations always converge when the market isn't wildly volatile... and volatile to the downside.
I don't think these major current month capitulations are going to hold. If they don't, we have a lot of room to move north.
Also, notice that Sept. and Oct. options decreased more than Aug. this morning. But longer dated options decreased less. I think this bodes well for less time decay, and a more sure thing as future prices move toward an inevitably much higher price nearer production cost which is coming this winter.