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Yeah, I get that, but negative is suppose to imply the NOT. Damn, my head hurts already. :confused: Anyway, if S&P drops to 0 some day, will this be their way to manage the crisis? Man, this is setting a bad precedence. :thumbsdown:

That't the whole point. If there were storage, we wouldn't be seeing this anomaly in the first place. But heck, if you were bold, I guess you could store it in your backyard. :D

Brain teaser: Just how the f*ck can you settle a negative price? Am I being paid by the broker now that I'm holding at -35?

CLK20: $-35 (-292%) Wow!!

I have a nasty feeling it's gonna follow suit and drop like a brick. We'll see how it trades tomorrow.

From CME: If WTI Crude Oil futures prices settle, in any month, to a price between $8.00/bbl and $11.00/bbl, CME Clearing MAY switch its pricing and margining options models from the existing models to the Bachelier model, currently utilized in numerous spread options products where negative...

CME sent out a memo last week about this. I can't recall this ever happening since I've been trading some 30 years now. Anyway, May contract is the spot month so that's the price it will be delivered. Hence, there's a killer arbitrage opportunity if you can store the oil by buying the May and...

I figure we won't break down completely today, but surely tomorrow. The litmus test is at 2800, which coincides with 50% and the major trendline (see below). If we close below 2800 tomorrow, this market is toast.

Looks like it hit the floor now. Ouch. That really looks painful. :confused:

Well, we wouldn't want the oil to fall too low. That would simply wreak havoc on the economy. I believe once the states open up, oil should recover gradually.

So they did it again tonight, pumping and dumping, humping and pimping. It's hard to believe there are people who still fall for this crap. I bet some of them still need to be breastfed. :sneaky:

THUNDER!....THUNDER!... :D

And this one as well...

Oh, c'mon, nothing compares to the original

Just 2 more points to go and I'm break-even. :D

Obviously, we must be still on good terms. :finger: :)

Funny you LOL :D

“A person who never made a mistake never tried anything new.” —Albert Einstein

OMG!! I'm literally shocked to hear that you're calling others "doom and gloomers." Have you forgotten that YOU were the biggest doom and gloomer on this board just 6 weeks ago? :D :banghead:

“No problem can be solved from the same thinking that got you in the mess in the first place.” —Albert Einstein