Just want to thank everyone for their thoughts and prayers for Mrs. Farmer. Surgery went as well as can be. Tomorrow we should learn from pathology if chemo, radiation or other will be necessary. Hopefully they got it all in surgery.
Hope you are long energy. EIA continues to manipulate weekly report data. It's so blatant and so sad at the same time. The key word to watch if you are reading articles, "estimates". Popular articles are being written and using the EIA numbers to try and make it appear there's lots of crude. Somewhere in the article will tell you it's based on "estimates" and "projections". The estimates and projections are wrong or more aptly put - it's an effin lie. Rigs are in decline (Baker Hughes reported a one (1) rig increase last week). Record production reported in past few months with ~200 fewer rigs than January 2023. That tells you the story. So much more water under the bridge since my last post. Just know, Saudi is telling the truth. They (OPEC) aren't lying as in the past. They have been telling the truth for last 2+ years.
XOM ATH is $119. Today I sold Nov $125 Strike - my entire position. If the shares are taken, I can live with it. It's an uphill battle for XOM entering new high territory, and facing the ATH's I think it made good sense for me. Q3 earnings will come out in Oct with a 'beat' and a div increase will likely be announced and give a boost to the shares. So, I may lose the shares or reposition the Options. I'm not leaving energy and I continue to be bullish into 2024. I own XOMO also. (BTW, YieldMax introduced a JP Morgan product this morning JPMO. I dont know the trade date yet.)
Thank you again for the thoughts and prayers. May God bless all of you.