CL Redux

Quote from heech:

I'm long 30 85c, 30 73.5p, 10 74p. Total cost $36200 (ex commissions).

I'll try to exit Sunday afternoon and limit theta burn. I can hedge as long as the markets are open... it's only these 48 hours that I'm nervous about. If people are interested I'll update people with my fills.
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I just exited Sunday afternoon. Was able to sell for a total of $31300.

So, net loss was $4900. Commissions ~$400. I really had to hit the bids to get out right now. I'm really curious what I could've exited at tomorrow morning at pit open... I'll definitely check it.

The cost was higher than I projected, but probably still worthwhile. I'll probably use similar hedges going forward on weekends and/or holidays with thin liquidity.
 
Quote from spd:

How short are you at this point? You've been managing this position for a couple weeks now, no?
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Actually, I've liquidated the previous swing position. The exits were posted on Thursday morning. For the current trade, I'm holding 7 lots with an average of 79.10. It looks like I will be biting the bullet anytime now.
 
Quote from schizo:

Actually, I've liquidated the previous swing position. The exits were posted on Thursday morning. For the current trade, I'm holding 7 lots with an average of 79.10. It looks like I will be biting the bullet anytime now.
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you're safe, I don't think your stop will be hit, then again what do I know.
 
It definitely appears to have turned the corner. Hopefully no sneak attacks are in store by these idiotic bulls. But damn, was that close or what? It came so close to my stop.

Quote from owusu:

you're safe, I don't think your stop will be hit, then again what do I know.
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I am expecting a bullish monday, for some reason. Have this feeling they are going to run it up tomorrow and then there will be a reversal.

Of course, it might not happen and thats why i didnt wait. BUt i will scale into a large short swing position if thats how it unfolds. The crude prices are crazy given the S/D data and the macro picture currently. One more jolt of bad news and right back down we go.
 
Quote from schizo:

It definitely appears to have turned the corner. Hopefully no sneak attacks are in store by these idiotic bulls. But damn, was that close or what? It came so close to my stop.
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WOW, 3 ticks from your stop

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That big wick looks encouraging for your cause at least. Hopefully the selling pressure continues. You going to stay awake through the Asian & European sessions watching this?
 
gonna take a miracle for this thing not to break higher...if the market is up tomorrow, so will this be. who knows what is really going on but it is f'n relentless...
 
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