This should be the bottom then, the only thing that could have kicked it below 20 USD was that landlocked oil producers wouldn't be able to leave it in their pipelines and wouldn't have any storage. I'm waiting for the report tomorrow and going long till 40 USD from then onwards
Crude Oil
- Thread starter JFonseca
- Start date
This should be the bottom then, the only thing that could have kicked it below 20 USD was that landlocked oil producers wouldn't be able to leave it in their pipelines and wouldn't have any storage. I'm waiting for the report tomorrow and going long till 40 USD from then onwards
I was looking at it the other way. That everyone keeps producing as much as they can. Fixed costs are being partially covered with variable production, even at a loss.
I thought the FED is stepping in so that producers won't sell at a loss just to take it off their storage. I think I read some crazy notion that because of the storage shortfall, oil could turn negative for a time. I think this measure should solve it.
Wyoming Asphalt Sour hit .19c. Bloomberg or some other news franchise said it went negative .19c.
The USO board on stocktwits seems to be the place with the most posts about crude oil, and there were so many bullish people who thought oil would go up on the OPEC+ deal. Oil is going lower to wipe them out before it bottoms.
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Good shot LOL
Glad i took ERX profits early. TX Tea= below $20 now........................................................................................
WTI struggling to break support in the low 19's. It's trading like a stock that is dying and eventually going to zero...
It's greater risk because you're selling at market. With a sold put, especially BTM, you're 'buying' the stock (getting assigned) at a MUCH lower price when premium plus lower price get combined. The way I maths it out, at these IV's selling puts is a no-brainer. But I put in a bunch of sell triggers at the ATH of med. term puts. In other words - sell orders of XOM $35 June puts for $8. Probably won't trigger, but I can't lose money on a trade I didn't make, so...
Yes iam with u 100% i do this but what iam saying if xom was at 50 lets says You would sell the 40 put, The point is the abnormal
Prices where ur selling the put where u do NOT think the stock price will get to are the same normal prices your seeing now that were abnormal when the stock was NOT there, picture this xom at 66 u sold a put at 50
Now u would
Be assigned that put,, great u would've been willing to buy the stock any ways because obviously you sold the put, now the price is there but you have not sold the put thus better to take the stock and buy it to maximize your gain, dont confuse maximizing the gain with maximizing the chances of the gain