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  • #7,461
  • Apr 20, 2020 10:09pm Apr 20, 2020 10:09pm
Quoting Hutch
Does anyone want to buy a WTI call when the price goes negative? {image}
Interesting point you bring up. I’m sure negative prices busted a lot of options models today that probably assumed 0.01 was the lower limit.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #7,462
  • Apr 20, 2020 11:16pm Apr 20, 2020 11:16pm
Crude oil futures prices fell to minus -40 usd. shows how afraid people are of holding oil now. and everything is going crazy
  • #7,463
  • Apr 21, 2020 1:03am Apr 21, 2020 1:03am
With enormous buying into June contract again might be another spectacular view of crashing into minus zone in a few weeks just before expiration. Oh well, greed and folly are endless.
For my fallen angels.
  • #7,464
  • Apr 21, 2020 1:11am Apr 21, 2020 1:11am
Quoting Big_A
With enormous buying into June contract again might be another spectacular view of crashing into minus zone in a few weeks just before expiration. Oh well, greed and folly are endless.
Within a month, lots of things can happen. And you'll have plenty of time to get out

Well that's why i don't play short expiry products.

Thing i don't understand is why the Saudis and Russia are flooding the market with oil if they know the situation. They want to kill all competition? or kill themselves!
COT: The precious data ignored
  • #7,465
  • Apr 21, 2020 1:27am Apr 21, 2020 1:27am
Europe / Usa Session 21 April
Short : 12.05
Risk: 13.10
Target: 10.11
Break Even @ 11.21
  • #7,466
  • Apr 21, 2020 1:48am Apr 21, 2020 1:48am
how june contract is 100 % safe still if talk about buying yesterday 44388 contracts are in plus means people are 100 % sure market will be going up in may buying is happening.........heck the data in the chart in details.
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  • #7,467
  • Apr 21, 2020 1:49am Apr 21, 2020 1:49am
21 April 2020

The biggest lesson oil has shown me in terms of a lesson is that one needs to refrain from making "human bias" follow the chart and you will be safe.

Was/have been looking for that "surely it wont go lower, it wont go lower" and looking to pick bottoms, yet the charts kept making lower lows and former support turning resistance along the way..

But we still in the game and we continue......

Green Pips
4&1 All Time Profit: $37,496
  • #7,468
  • Apr 21, 2020 2:14am Apr 21, 2020 2:14am
Quoting kuroro001
{quote} Within a month, lots of things can happen. And you'll have plenty of time to get out Well that's why i don't play short expiry products. Thing i don't understand is why the Saudis and Russia are flooding the market with oil if they know the situation. They want to kill all competition? or kill themselves!
They have seen this coming from a mile away. If you have a product and is going to crash in the future then you'll try to sell everything before that happens and if the byproduct knocks out the competition collateral damage huh... Gain some goodwill with massive cuts and when the market collapse the rest of the world is forced to cut.
persistence and determination alone are omnipotent
  • #7,469
  • Apr 21, 2020 3:06am Apr 21, 2020 3:06am
is there anybody whose broker recorded negative oil price for WTI?
  • #7,470
  • Apr 21, 2020 3:28am Apr 21, 2020 3:28am
Quoting Ll1979
{quote} They have seen this coming from a mile away. If you have a product and is going to crash in the future then you'll try to sell everything before that happens and if the byproduct knocks out the competition collateral damage huh... Gain some goodwill with massive cuts and when the market collapse the rest of the world is forced to cut.
Question is what's next ?

Are all expiry going to 0 now? until oil is gone?

Or are we in the era of a big bounce towards 40 ?
COT: The precious data ignored
  • #7,471
  • Apr 21, 2020 3:30am Apr 21, 2020 3:30am


https://www.bloomberg.com/news/artic...&sref=5F8Ao01j
persistence and determination alone are omnipotent
  • #7,472
  • Apr 21, 2020 3:40am Apr 21, 2020 3:40am
Seems its time to start sell WTI june. For now nobody can see different scenario that may. There is no place to storage but seems OPEC is in huuuuge problems. Time to make some god money in this Corona hard time for us small people. Stay safe.
  • #7,473
  • Apr 21, 2020 3:44am Apr 21, 2020 3:44am
Do we have any opportunity at 10$ for buy ? will this level hold? anybody can comment on this.
  • #7,474
  • Apr 21, 2020 3:45am Apr 21, 2020 3:45am
OPEC could fix everything, but they don't want it for sure

Just cut massively all the useless production and its over of the bear market.

It just looks like an opportunity to get rid of all competitions
COT: The precious data ignored
  • #7,475
  • Apr 21, 2020 3:48am Apr 21, 2020 3:48am
Quoting kuroro001
{quote} Question is what's next ? Are all expiry going to 0 now? until oil is gone? Or are we in the era of a big bounce towards 40 ?
It basically comes down to supply, demand and storage. With storage running out this uncertainty will last longer than everybody might think. Cities/Countries opening from corona will boost demand but while the massive storage capacities will slowly decrease.

The world need to cut drastic else the next future contract will result into the same behavior since nobody wants the oil.
persistence and determination alone are omnipotent
  • #7,476
  • Apr 21, 2020 3:51am Apr 21, 2020 3:51am
Quoting Ll1979
{quote} It basically comes down to supply, demand and storage. With storage running out this uncertainty will last longer than everybody might think. Cities/Countries opening from corona will boost demand but while the massive storage capacities will slowly decrease. The world need to cut drastic else the next future contract will result into the same behavior since nobody wants the oil.
Why aren't they cutting now is the question.

Don't tell me they are happy with an oil price at 0 ? it sounds insane when you think about it.
Every producers will go broke

And since bears are overly confident now, i'd be cautious
COT: The precious data ignored
  • #7,477
  • Apr 21, 2020 3:53am Apr 21, 2020 3:53am
Hello @ all,

I'm buying... unbelievable price... oil for free, lol
  • #7,478
  • Apr 21, 2020 3:53am Apr 21, 2020 3:53am
Quoting kuroro001
OPEC could fix everything, but they don't want it for sure Just cut massively all the useless production and its over of the bear market. It just looks like an opportunity to get rid of all competitions
When the opportunity comes to the door I ask no more but try to accept the situation and get the best out of it.
  • #7,479
  • Apr 21, 2020 4:04am Apr 21, 2020 4:04am
Quoting kstiks
{quote} When the opportunity comes to the door I ask no more but try to accept the situation and get the best out of it.
Can't sell here really

I'd rather wait down below, maybe 15 maybe 10, maybe 5

I'll accumulate and wait months, i have time
COT: The precious data ignored
  • #7,480
  • Apr 21, 2020 4:11am Apr 21, 2020 4:11am
Quoting kuroro001
{quote} Can't sell here really I'd rather wait down below, maybe 15 maybe 10, maybe 5 I'll accumulate and wait months, i have time
I understand, but I meant short term. I sold @ $ 19.75 and now the price is $ 17.40 but it's still going down .... I'm happy with SL / TP at $ 18. Anyway I'm in profit. Now I'm just waiting.
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