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I'm not saying that the play is to outright short June Crude Oil. Too risky and not really my style. But I would not argue with being short June CL long Sept CL as a spread, or short June CL long June RBOB as a spread. :rolleyes:

It wouldn't surprise me. We would really need to see a great pick up in demand for finished distillates from refiners and in turn, refiners taking in much greater quantities of crude. And May 19 is the last trading day for the June contract and May 21 is first notice day for the June contract...

These days you can buy 100 shares of a stock. Trust yourself and have a little confidence. If you are trading small you can experiment with your conviction. From little acorns grow big oak trees. :fistbump::strong: Just stay away from stuff like futures unless you really know what you are...

Use the June 2020 tab for the most current spread ratios: https://www.cmegroup.com/trading/interest-rates/intercommodity-spread.html Here's a primer, but don't calculate the ratios yourself - use the CME's ratios in the tab I linked to above. Some of the best information you can find on...

You only have yourself to blame. Hopefully the lesson in part is to not post on a website forum looking for advice from knuckleheads. o_O

I hear what you're saying and you have a point - but go tell that to the pension fund or endowment manager. Growth clearly beat Value the past decade.

June is in very severe Contango versus the balance of the forward curve in crude oil. Has been since May went off the board. You seem very sure of yourself, however. I've been trading Oil and Distillates for well over 20 years and I do not share your 'confidence'. Especially given the...

An 89 year old man is worried. Wow. Imagine that.

Exactly. The Buffett shine has definitely worn off with institutional investors. Buffett sat on a mountain of cash during the most significant five year rally in Wall Street history.

You seem like you’re placing the blame on NYMEX. Retail speculators have the responsibility to: 1. Understand their broker’s last trading day policy and position liquidation policy for the particular instruments they are trading, and 2. Understand the delivery and settlement specifications for...

Semantics are really important here. Is there actual Storage capacity at Cushing, OK? Sure. Some. Will Pioneer or Concho or Exxon sell you or sublet to you their storage capacity? F**k No.

The recent May Crude Oil futures long squeeze reminded me of something really similar that happened to the May 2011 and July 2011 ICE Cotton Futures Contract - but it was a massive short squeeze on, once again - a physically delivered contract with very specific and prescribed delivery...

Something really similar happened to the May 2011 and July 2011 ICE Cotton Futures Contract - but it was a massive short squeeze on, once again - a physically delivered contract with very specific and prescribed delivery specifications. Louis Dreyfus had bought up a massive long futures...

I also think that private senior living homes are under-reporting COVID deaths because they are not confirmed by testing and they generally speaking want to avoid litigation. I know this is Project Veritas so there's that, but the funeral home directors interviewed have some legit points to...

https://www.npr.org/sections/coronavirus-live-updates/2020/04/08/829506542/after-deaths-at-home-in-nyc-officials-plan-to-count-many-as-covid-19 https://www.nbcnews.com/news/us-news/new-york-start-reporting-probable-coronavirus-deaths-cdc-n1184821

New York funeral homes have been complaining that the State is labeling just about every Senior death as COVID - for the federal $$$.

Two dynamics: 1. On the Commercial end, zero demand and oversupply to the extent that leased tankers are being used as storage. Refiners are taking very little delivery. No rack space in Cushing, OK. 2. Retail speculators bottom fishing and getting really lit up. They were trading a...

Kiss of Death.

https://markets.cboe.com/us/options/trading/crossing_orders/ CBOE order crossing using the Automated Improvement Mechanism (AIM).

Well, my guess is that the volume checked with the entire firm's equity on hand on the clearing firm and exchange checks level. This is surprising to me, because the proprietary firm's Risk Manager always puts hard machine limits on individual traders in terms of order entry limits and...