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21,523,132 Views | 223304 Replies | Last: 8 hrs ago by ProgN
TChaney
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Definitely Not A Cop
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AG
IrishTxAggie said:

STNG


I'm in on this as of 15 minutes ago. Already up 1.5%.
chrisfield
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Sponsor
AG
If you had $15k to drop in O&G right now where would you put it? Timeline 1-3 years with goal of doubling to tripling.
chrisfield
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AG
Wrong emoji--I feel terrible for everyone in O&G right now.
ProgN
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XOM or CHV.
Premium
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AG
Is this safe to buy futures? I'm fairly ignorant of this but someone tried to explain it to me in a prior thread...
jj9000
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Prognightmare said:

XOM or CHV.
CHV

Canada House Cannabis Group Inc ?

I mean it's 4/20 and all, but dude?
McInnis 03
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AG
THEY WENT NEGATIVE
claym711
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Looks like most of the damage is limited to front month and the ETFs tracking it.
jsap
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So when buying naked puts, I would select "sell to open" correct? I would then receive the premium into my account. If the stock is trading below strike price at the expiration I will be assigned the shares and if it's trading above strike price it'll expire worthless? Am I correct in that assumption?
Ranger222
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Have some SHOP I bought from March I'm letting go of today.....has been a beast but looks extended
McInnis 03
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-3.50/bbl
aggiedaniel06
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I just closed out my Cl1 shorts at $0.10. Trade of my life!

For those that are buying USO, treat it as a very short trade. I mean like hours or days. I would run away from USO when oil is in severe contango! Even if oil "prices" go up, USO will keep rolling over. So the fund will always be buying high and selling low.

If the lockdown continues to be extended and things are not rapidly improving, shorting July futures looks to be very profitable. I'll probably do that and hedge with September.
McInnis 03
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aggiedaniel06 said:

I just closed out my Cl1 shorts at $0.10. Trade of my life!

For those that are buying USO, treat it as a very short trade. I mean like hours or days. I would run away from USO when oil is in severe contango! Even if oil "prices" go up, USO will keep rolling over. So the fund will always be buying high and selling low.

If the lockdown continues to be extended and things are not rapidly improving, shorting July futures looks to be very profitable. I'll probably do that and hedge with September.


Time to short CL2
Charismatic Megafauna
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AG
all correct except you're "selling naked puts" (no such thing as "buying naked puts") with one addition, it will lock up margin or cash to cover the shares at the strike price, in the event you get assigned
TheCellarDoor
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McInnis 03 said:

aggiedaniel06 said:

I just closed out my Cl1 shorts at $0.10. Trade of my life!

For those that are buying USO, treat it as a very short trade. I mean like hours or days. I would run away from USO when oil is in severe contango! Even if oil "prices" go up, USO will keep rolling over. So the fund will always be buying high and selling low.

If the lockdown continues to be extended and things are not rapidly improving, shorting July futures looks to be very profitable. I'll probably do that and hedge with September.


Time to short CL2
How do you do this? I bought USO puts a while back, but that's June at this point. I wanted to short prompt barrels because I knew this was coming, but didn't know how.
jsap
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NRD09 said:

all correct except you're "selling naked puts" (no such thing as "buying naked puts") with one addition, it will lock up margin or cash to cover the shares at the strike price, in the event you get assigned
Got it. Thanks for the confirmation.
P.H. Dexippus
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AG
How well did you do?
La Bamba
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Straddles for tomorrow?
Rice and Fries
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Rice and Fries said:

Rice and Fries said:

Oil at $10.75 right now....
HOLY HELL BATMAN, ITS AT $4 NOW
HOLY **** DID YOU SEE THAT DROP TO -$22?!

aeroag14
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Forgive my newbieness but how do negative future prices even work?
Baby Billy
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what the hell is going on?
jj9000
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Rice and Fries said:


Edit: June WTI is now negative.
Where are you seeing this?
McInnis 03
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-$38 /bbl
ProgN
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jj9000 said:

Prognightmare said:

XOM or CHV.
CHV

Canada House Cannabis Group Inc ?

I mean it's 4/20 and all, but dude?
CVX
$30,000 Millionaire
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Can someone explain this premise for me, because I am not understanding?

How is it possible for May crude futures to be trading negatively, and there is high likelihood of June, July, Aug to also trade close to zero (or negative), and companies like XOM, CVX, are largely retaining their value. Shouldn't O&G be falling through the floor? Some entities like Ranger are up today. I know that big companies like Exxon are going to survive, but where will the revenue and operating income come from? Is it belief that demand will return?
aggiegolf86
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BA a good long term buy?
98PercenterAg
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I'm thinking of straddling SNAP. Earnings tomorrow after close and it has been flat today. Just can't decide on a strike price.
AnyOtherName
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Same question here. I just shorted MTDR and it went green on me. Was expecting a fallout. I know I just pulled a rookie move some how.
McInnis 03
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From the Houston thread

Ulrich said:

ATMTWS said:

Ulrich said:

The D said:

Negative $40
People really need to start looking at the active contract.
Is the storage issue going to magically be fixed come tomorrow?
Absolutely not, that's why prices are in the high teens and 20s, or even lower in basin. It's why producers are shutting in and midstream/storage is refusing production. But looking at an expiring contract where all the liquidity is most likely coming from a tiny handful of stranded batches that couldn't find a home at the last minute is giving a deceptive picture of where the market really is.
Charismatic Megafauna
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in my probably naive and very simplistic way of thinking, it goes like this:
the world uses a ****ton of oil. Just not right now. Nothing fundamental has changed, we will go back to using a ****ton of oil as soon as the world starts back up. Just nobody knows quite when that's going to happen. This isn't a paradigm shift of energy sources or ways of doing business, everybody's just staying home for a couple months. That's why nobody wants to rush to Ch11 or shut in wells that are going to have to be worked over if they stop flowing, because the current dearth of demand (and the storage issue being caused by it) is very temporary. Happy to hear any arguments to the contrary.
Rice and Fries
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$30,000 Millionaire said:

Can someone explain this premise for me, because I am not understanding?

How is it possible for May crude futures to be trading negatively, and there is high likelihood of June, July, Aug to also trade close to zero (or negative), and companies like XOM, CVX, are largely retaining their value. Shouldn't O&G be falling through the floor? Some entities like Ranger are up today. I know that big companies like Exxon are going to survive, but where will the revenue and operating income come from? Is it belief that demand will return?
Just watched CNBC talk about this and I'm going to armchair QB this: No one has any idea. No one will actually pay someone $40 to take their barrel of oil on their hands. People seem to think something is wrong in the market (structure wise) or that maybe lots of O&G companies were offloading because they dont see any new openings in holding spots for oil.
McInnis 03
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If the oil market really was negative, TSLA should crater....
AggiePeeps06
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Ok so the logical conclusion is that June is going to crater also. Without having access to futures, how can I best short June oil?
Charismatic Megafauna
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nobody buys a tsla to save money on gas
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