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Saw the same thing on SPY on IBKR.

Its a reporting bias. If someone buys far outside of the money options, 999/1000 time they expire worthless and dont post about it.....but that one time, they might cover there losses.....and if they are exceptionally lucky they get a 10k:1 pay off. More often then not though....these guys go...

Because I'd rather screw the Russians somehow. Fk those guys!

Fair enough. And it will be the excuse this time, next time, etc. Just repackaged for the world at the time.

Besides production costs, Doesn't Saudi's govt have a budget /social programs that are dependent on oil prices that are MUCH higher? Maybe that was one of the other opec memebers

Yes agreed. I think Russia baited saudi to make this move though. Not an original idea by me.

But whats done is done. Who has the appetite to let them fail?

I am too, for the most part. I posted this purely for discussion. Just a random thought I had..but I dont think it's impossible. WH said they're announcing stimulus tommorow

Help industry weather the storm.

That's what Saudis play is...drive down the price by flooding the market. Bring the Russians back to the table to discuss a production cut....or kill the u.s shale industry in the process. After u.s death, increase prices and have greater market share.

I'm not at all worried. If it ends up being a bad trade...owell. I'm not even negative on it yet (i do expect to be in the near term). I have more than enough to cover the trade, and many like it, even if oil goes to zero. This is just another trade...one of the hundreds I make every day. But...

I have far dated crude contracts, as of today, in one of my discretionary accounts. No direct equity exposure, outside of s&p 500.

Oh I get it. Hard reset.

I agree with you, but I worry about more than first derivative effects with this one. Banking scares me.

What happens to the banks when those debtors go tits up? To generate bipartisan support.....the green energy sector goes tits up too, with $30/brl oil

Without too much thought and for the sake of conversation...yes. For the long term good. And only because a geopolitical foe engineered this to attack u.s industry. If companies default, that ripples through the whole u.s economy

What's bullshit? Do you disagree with the thesis of a Russian attack on the U.S industry....or the proposed response?

This is a half baked thought...but may spur interesting conversation: Wouldn't be popular and may lose him an election....but Russia declared war on U.S energy sector by refusing to cut production, and Saudi took the bait. It would be interesting if the u.s govt stimulated/proped up domestic...

Again, speculating....but low oil price will potentially shutter some U.S oil frackers, that produce nat gas as a byproduct, reducing supply

Nat gas Market isn't about to be flooded w/ cheap Saudi oil, I presume. Fundamentals aren't my thing tho