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WTI Crude Oil Trading

  • #7,841
  • Apr 28, 2020 7:21pm Apr 28, 2020 7:21pm
There have been plenty of warnings of Crude going negative again. Daily chart isn't looking too good. This is the continuous via TradeStation but consider it the June contract.
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  • #7,842
  • Apr 28, 2020 8:33pm Apr 28, 2020 8:33pm
Quoting EventsTrader
There have been plenty of warnings of Crude going negative again. Daily chart isn't looking too good. This is the continuous via TradeStation but consider it the June contract. {image}
Apparently there CL options down to -700.

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  • #7,843
  • Apr 28, 2020 9:22pm Apr 28, 2020 9:22pm
Quoting EF5
{quote} Apparently there CL options down to -700. {image}
What is the difference here? There is something I have missed.

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  • #7,844
  • Apr 28, 2020 9:42pm Apr 28, 2020 9:42pm
Quoting Suryananda
{quote} What is the difference here? There is something I have missed. {image} .
I just think its remarkable that a.) the CME actually allows for negative strike prices and b.) that options for -700 exist. I mean, if you buy a put you lose money unless CL ends lower than -700 which is pretty insane.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #7,845
  • Apr 28, 2020 9:55pm Apr 28, 2020 9:55pm
Quoting EF5
{quote} I just think its remarkable that a.) the CME actually allows for negative strike prices and b.) that options for -700 exist. I mean, if you buy a put you lose money unless CL ends lower than -700 which is pretty insane.
If I buy a CALL do I earn money above -700? Will you give me the oil plus 700 USD plus 1,000 barrels? I do not understand anything.
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  • #7,846
  • Apr 28, 2020 10:04pm Apr 28, 2020 10:04pm
Quoting Suryananda
{quote} If I buy a CALL do I earn money above -700? Will you give me the oil plus 700 USD plus 1,000 barrels? I do not understand anything. .
Yeah, you'd earn money above -700. The price in the image is wrong, since the call is $714 in the money it can't cost less than that.

I think these options must be in case there's a last-minute crash at the end of the contract period. It's feasible there's no-bid so any price is possible in that situation, but I doubt that will happen. Based on what I've heard a few players in the market got stuck long and were forced to sell at any price before the contract ended thus resulting in the -40 figure we briefly saw for the May contract.
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  • #7,847
  • Apr 29, 2020 12:23am Apr 29, 2020 12:23am
Guys, is it just me or is WTI good for entering BUY right now? Price now 14.180...
Can you afford to take that chance?
  • #7,848
  • Apr 29, 2020 2:08am Apr 29, 2020 2:08am
Quoting auricforecas
Guys, is it just me or is WTI good for entering BUY right now? Price now 14.180...
Closing the trade at TP 14.72... (0.54 price difference). Not bad, it went into a dive in between but still good in my book, specially at current market conditions.
Can you afford to take that chance?
  • #7,849
  • Apr 29, 2020 3:45am Apr 29, 2020 3:45am
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  • #7,850
  • Apr 29, 2020 4:07am Apr 29, 2020 4:07am
I have no clue what's going on. Still think that price will go lot lower in the next two weeks but short term could go higher. Bit of a coin toss at the moment
  • #7,851
  • Apr 29, 2020 4:08am Apr 29, 2020 4:08am
Quoting tonny47
I have no clue what's going on. Still think that price will go lot lower in the next two weeks but short term could go higher. Bit of a coin toss at the moment

its only the view for today.....
  • #7,852
  • Apr 29, 2020 5:29am Apr 29, 2020 5:29am
Looks like ascending triangle is building up - should be nice long short term, perhaps to 15.50
  • #7,853
  • Edited 10:03am Apr 29, 2020 9:46am | Edited 10:03am
And who is here through you through the indicators. which shows the purchase or sale of contracts?
  • #7,854
  • Apr 29, 2020 1:05pm Apr 29, 2020 1:05pm
US is in no hurry to shut ins i guess


Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day)
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  • #7,855
  • Apr 29, 2020 1:44pm Apr 29, 2020 1:44pm
market makers are having a field day with day traders right now. just when u think a nice rally is starting they smack it back down. my take is the low is being defended by bulls but there isn't enough demand to sustain a rally and in between these moves they move it around to screw with scalpers and day traders
  • #7,856
  • Apr 29, 2020 1:57pm Apr 29, 2020 1:57pm
Seems like markets got a bit of a boost due to Gilead coming up with vaccine faster than expected but still too early to tell if viable.

Do you guys think that oil will go up from 1 May temporarily? I know supply will still be much larger even when they start cutting but wouldn't there be a bit of psychological effect before storage gets really filled up?
  • #7,857
  • Apr 29, 2020 1:59pm Apr 29, 2020 1:59pm
Quoting Ll1979
US is in no hurry to shut ins i guess Weekly U.S. Field Production of Crude Oil (Thousand Barrels per Day) {image}
expected bigger drop than that
  • #7,858
  • Apr 29, 2020 2:00pm Apr 29, 2020 2:00pm
I think Texas producers will be bankrupt by then...
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  • #7,859
  • Apr 29, 2020 2:05pm Apr 29, 2020 2:05pm
what about crude inventory. ...
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  • #7,860
  • Apr 29, 2020 2:37pm Apr 29, 2020 2:37pm
Quoting mohsinali
what about crude inventory. ...
still building up fast at 9 mil this week (US)
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