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Last: 30 min ago by FishrCoAg
IrishTxAggie said:
STNG
I'm in on this as of 15 minutes ago. Already up 1.5%.
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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.
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Wrong emoji--I feel terrible for everyone in O&G right now.
XOM or CHV.
Is this safe to buy futures? I'm fairly ignorant of this but someone tried to explain it to me in a prior thread...
THEY WENT NEGATIVE
Looks like most of the damage is limited to front month and the ETFs tracking it.
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?
Have some SHOP I bought from March I'm letting go of today.....has been a beast but looks extended
-3.50/bbl
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.
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.
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
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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
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.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
Got it. Thanks for the confirmation.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
How well did you do?
Straddles for tomorrow?
HOLY **** DID YOU SEE THAT DROP TO -$22?!Rice and Fries said:HOLY HELL BATMAN, ITS AT $4 NOWRice and Fries said:
Oil at $10.75 right now....
Forgive my newbieness but how do negative future prices even work?
what the hell is going on?
-$38 /bbl
CVXjj9000 said:CHVPrognightmare said:
XOM or CHV.
Canada House Cannabis Group Inc ?
I mean it's 4/20 and all, but dude?
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?
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?
BA a good long term buy?
I'm thinking of straddling SNAP. Earnings tomorrow after close and it has been flat today. Just can't decide on a strike price.
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.
From the Houston thread
Ulrich said: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.ATMTWS said:Is the storage issue going to magically be fixed come tomorrow?Ulrich said:People really need to start looking at the active contract.The D said:
Negative $40
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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.
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.
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.$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?
If the oil market really was negative, TSLA should crater....
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?
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nobody buys a tsla to save money on gas
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