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McInnis 03
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In reply to IrishTxAggie • 3:31p, 4/20/20
AG
Did you see this bud?

https://amp.usatoday.com/amp/5162801002?fbclid=IwAR2sReOmGMMwpExsgrs47oRdCQjwfVbsy2X6NoFlxn1jjbNyUDiHcrgBMZ4
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OverSeas AG
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3:34p, 4/20/20
AG
Every knee shall bow and every tongue shall confess
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IrishTxAggie
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In reply to McInnis 03 • 3:36p, 4/20/20
AG
Not surprised. I'm done with them once this crap settles down
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texagbeliever
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In reply to McInnis 03 • 3:38p, 4/20/20
Makes sense. I bought wfc on friday.
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Exsurge Domine
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In reply to AggiePeeps06 • 3:40p, 4/20/20
AggiePeeps06 said:
What contracts were you trading on USO? My contracts in July hardly moved


May 15 5.5c. They popped real hard for about 20 minutes
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aggiedaniel06
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In reply to Ragoo • 3:55p, 4/20/20
AG
Ragoo said:
Anyone asking about shorting oil today needs to stop. Your mind set is chasing based on sensation and speculation. Going to lose your ass doing that.

Isn't that the same as people who buy Tilray at $140 or Tesla at $900 or any of the other things that trade at a gazillion times earnings?

I'll play devils advocate, when something is in severe contango like CL, one of the highest probablity trades out there, is shorting near term futures contracts hedged with longer term ones.
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aunuwyn08
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In reply to McInnis 03 • 3:57p, 4/20/20
AG
McInnis 03 said:
Did you see this bud?

https://amp.usatoday.com/amp/5162801002?fbclid=IwAR2sReOmGMMwpExsgrs47oRdCQjwfVbsy2X6NoFlxn1jjbNyUDiHcrgBMZ4


The article is specifically about Chase, but the headline is targeting WFC. Looks like all major banks getting sued, nothing unique to just WFC.

Really this is unsurprising. Banks did the same **** in 08. Government uses these major banks to stabilize economy with taxpayer money, but then the banks act only in their self interests. Part if the reason I'm investing in the major banks this time. They'll make sure they get theirs - no matter what.

"There is no security on this earth, there is only opportunity." - General Douglas MacArthur
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george1992
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In reply to McInnis 03 • 3:58p, 4/20/20
McInnis 03 said:
Did you see this bud?

https://amp.usatoday.com/amp/5162801002?fbclid=IwAR2sReOmGMMwpExsgrs47oRdCQjwfVbsy2X6NoFlxn1jjbNyUDiHcrgBMZ4


Lol every bank did this. The biggest customers were moved to the front of the line whether they needed the money or not. All of my decent size construction and prof services clients got their money and quickly. Most of my small businesses without any clout, got shut out. Even though they were the first to apply when this first rolled out.
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Ragoo
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In reply to aggiedaniel06 • 3:59p, 4/20/20
AG
aggiedaniel06 said:
Ragoo said:
Anyone asking about shorting oil today needs to stop. Your mind set is chasing based on sensation and speculation. Going to lose your ass doing that.

Isn't that the same as people who buy Tilray at $140 or Tesla at $900 or any of the other things that trade at a gazillion times earnings?

I'll play devils advocate, when something is in severe contango like CL, one of the highest probablity trades out there, is shorting near term futures contracts hedged with longer term ones.
you obviously know what you are doing this the comment was directed at those asking today. Trading futures or options on futures is a little more complex than FOMO on Tesla.
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bangobango
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In reply to McInnis 03 • 4:05p, 4/20/20
AG
McInnis 03 said:
AggiePeeps06 said:
Maybe better question to ask is what banks are exposed to energy hedges? They were just talking about this on CNBC

so my bank is number one on that list. Should I be moving my money?
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khkman22
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4:11p, 4/20/20
AG
Set a limit order on DFS 5/15 $40 call this morning at $1.50 after the ask had already jumped to $1.70-$1.75. Forgot about the order until just now when I looked at my account. Easy to spot that line of green in a sea of red. I'll probably dump before earnings unless I am able to be net free prior with a runner or two.
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ProgN
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In reply to aggiedaniel06 • 4:15p, 4/20/20
aggiedaniel06 said:
Ragoo said:
Anyone asking about shorting oil today needs to stop. Your mind set is chasing based on sensation and speculation. Going to lose your ass doing that.

Isn't that the same as people who buy Tilray at $140 or Tesla at $900 or any of the other things that trade at a gazillion times earnings?

I'll play devils advocate, when something is in severe contango like CL, one of the highest probablity trades out there, is shorting near term futures contracts hedged with longer term ones.
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ProgN
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In reply to Ragoo • 4:18p, 4/20/20
Ragoo said:
aggiedaniel06 said:
Ragoo said:
Anyone asking about shorting oil today needs to stop. Your mind set is chasing based on sensation and speculation. Going to lose your ass doing that.

Isn't that the same as people who buy Tilray at $140 or Tesla at $900 or any of the other things that trade at a gazillion times earnings?

I'll play devils advocate, when something is in severe contango like CL, one of the highest probablity trades out there, is shorting near term futures contracts hedged with longer term ones.
you obviously know what you are doing this the comment was directed at those asking today. Trading futures or options on futures is a little more complex than FOMO on Tesla.
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Aggie09Derek
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In reply to bangobango • 4:22p, 4/20/20
AG
No need to move your money
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$30,000 Millionaire
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In reply to aggiedaniel06 • 4:51p, 4/20/20
AG
aggiedaniel06 said:
I'll answer the first part of your question on why I think May CL was trading negative. There must've been funds that were long (God only knows for what reason) and today is settlement day. Like the majority of commodity traders, they have no intention of taking physical settlement (or maybe were even too clever and thought that they could take settlement and found out that was zero storage capacity anywhere).

Then guess what happens, you are sitting in your high rise in New York or Chicago trading numbers on a screen and suddenly you have millions of physical barrels of oil coming your way. That is a real **** sandwich and you end up begging (paying -$32 or whatever) to someone else who at least has a field where they can dig a hole to store this oil, to take it off your hands.
Thank you and agree on the "long squeeze" (who knew that was a term). What I'm really not understanding is why this won't happen again in June, July, Aug and secondly why O&G companies are still holding value in the backdrop of a demand collapse.
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khkman22
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5:06p, 4/20/20
AG
If someone had to take delivery, what would it actually be stored in? Just a standard barrel? How much is one contract worth? Just curious what some people may have gotten themselves into without realizing it.
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Red Pear Realty
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In reply to khkman22 • 5:10p, 4/20/20
Sponsor
AG
khkman22 said:
If someone had to take delivery, what would it actually be stored in? Just a standard barrel? How much is one contract worth? Just curious what some people may have gotten themselves into without realizing it.


Asking for a friend of course.
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
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khkman22
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5:16p, 4/20/20
AG
You wouldn't believe the schemes he comes up with just to make a buck. He said he'd have no problem hiring a few people and sticking them in a field to guard these barrels until they could be unloaded into the market.
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aggiedaniel06
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In reply to khkman22 • 5:37p, 4/20/20
AG
1 crude futures contract = 1000 barrels.
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aggiedaniel06
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In reply to $30,000 Millionaire • 5:43p, 4/20/20
AG
It *will*. Hence read my post about shorting near term CL futures when in contango. Just be prudent and hedge.

The risk with shorting crude is that when prices drop this low, invariably bombs seem to start dropping too...
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98PercenterAg
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5:47p, 4/20/20
AG
I remember yesterday when I said I was going to do nothing this week. Looking back on today, I've noticed I have a problem with lying to myself.
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E
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6:34p, 4/20/20
AG
Saw a couple posts earlier but not much into the background of the stocks, but do any of y'all follow UCO or OIL? They seem stupid low but I also don't know anything about them...
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Rice and Fries
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7:49p, 4/20/20
Anyone have any thoughts on Alliance Data Systems (ADS)?

To me, that business seems like it's been a bit punished due to association with airlines, but they also have other revenue streams associated to shopping/retail.. They analyze customer data and you mean to tell me some of the non-amazon online retailers don't want to have help analyzing COVID buyers data trends?
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Exsurge Domine
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7:49p, 4/20/20
Riley290 sighting on the Covid board, seems he is in NYC doing God's work

https://texags.com/forums/84/topics/3107744/last#last
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TecRecAg
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In reply to E • 7:51p, 4/20/20
AG
I just got in to UCO about 5 minutes prior to close @ $1.33. Hoping for the best over next 6-12 months but prepared to eat it if not. Too low not to buy a lottery ticket
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Exsurge Domine
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In reply to TecRecAg • 7:53p, 4/20/20
TecRecAg said:
I just got in to UCO about 5 minutes prior to close @ $1.33. Hoping for the best over next 6-12 months but prepared to eat it if not. Too low not to buy a lottery ticket


Some of the calls look unbelievable. Jan 21 2022 1c @1.13??? Is that possible? This thing was $23 in Jan.
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leoj
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In reply to Exsurge Domine • 8:00p, 4/20/20
AG
Exsurge Domine said:
Riley290 sighting on the Covid board, seems he is in NYC doing God's work

https://texags.com/forums/84/topics/3107744/last#last


Wow, stay safe and gig'em!
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TecRecAg
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In reply to Exsurge Domine • 8:02p, 4/20/20
AG
My thoughts exactly. Oil isn't going away. May take time but even getting back to $20 is enough cash to make me sell
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Grown Pear
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In reply to Exsurge Domine • 8:05p, 4/20/20
AG
Do you mean $1.00?

Jan 21, 2022 $1.00 UCO call for 1.33?
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Charismatic Megafauna
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8:06p, 4/20/20
AG
Careful with long calls on a leveraged etf. The way these things work makes them trend to 0 over time. Uso is unleveraged and doesn't decay
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Exsurge Domine
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In reply to Grown Pear • 8:07p, 4/20/20
Grown Pear said:
Do you mean $1.00?

Jan 21, 2022 $1.00 UCO call for 1.33?


Yes, $1 for $1.13 premium

[url=https://ibb.co/mJgh44S][/url]
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TecRecAg
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In reply to Charismatic Megafauna • 8:11p, 4/20/20
AG
Should I check how it is in opening tomorrow.. potentially cash out and move to USO?

Sorry. Very very new to the stock game
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Exsurge Domine
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In reply to Charismatic Megafauna • 8:16p, 4/20/20
NRD09 said:
Careful with long calls on a leveraged etf. The way these things work makes them trend to 0 over time. Uso is unleveraged and doesn't decay


https://www.investopedia.com/articles/financial-advisors/082515/why-leveraged-etfs-are-not-longterm-bet.asp

Good advice. I learned something new
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light_bulb
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8:20p, 4/20/20
AG
Sorry if this was already brought up, but out of curiosity how would the UCO 1:25 reverse split that is occurring tomorrow affect an option contract already in place before the split?
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Charismatic Megafauna
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In reply to TecRecAg • 8:28p, 4/20/20
AG
That's up to you, if your crystal ball says oil is going up for a few days keep it a couple days, if it goes down or flat that's where you get eaten up

PA I believe your strike prices will adjust per the split but have no experience with it
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