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Oil rigs:+2 to 766,US rigs:+8 to 958.
For oil,mostly ETFs/ETNs and long(buy)options puts and/or calls. I also trade oil equities and their options, though I don't talk about that much. I generally don't like the risk of selling options, but the covered call side carries no risk, but caps earnings.
I am not long UCO at the moment. The posted example is for anybody who did not understand what I meant by collar or costless collar. This game isn't for one-trick ponies.
Abuelo...careful is hedging.$52 would make me happy just as well! Rolled my calls yesterday for otm cheapies.
My collar what? I don't understand your question.
Or could've waited a day! Adding cheapie puts up here.
Loading the shotgun...with puts! Dumped and rolled all itm calls.
Practice calling your targets.This is why I post mine.Keeps me 'honest' with myself.
Look at your timing with the buys. If you rarely make money with your first buy, start with smaller amounts.
Thanks,but having questions is the *best* reason to post.
The $27 range has been an 'old' target for a DWT bounce since it peaked in late June. Some of the chop in between made it a more difficult trade as I've repositioned with UWT a couple of times since.
I think this *could* be the bounce, but I'm hedged with other long crude ETF calls if it continues to go higher.
Hope that helps!
When I sell,it's always in tranches.So while I may sell some too early, I usually end up selling *something* at the right time.
Right on the nose...$49.20 hit,for now.
Major trend line hit.Cue that DUMP!
UWTIF Still dying a slow OTC death
Maybe. High $27 was my target from the last WTI bounce.
"Bidding $8s here.. I have the patience"... Patience ran out?
lol.Stand right there,while I get a screwdriver...
I think big shorts just see the opportunity, and make it happen.
lol.Boat feeling heavy on one side...
Huge $0.98 doji right now in the 4 hour...
lol.Asking nicely wasn't working.
Good stuff LMS.Just a question if the short covering is done...
1st target hit @$48.84.2nd at $49.20. A little doubtful of that one now. We'll see. Trade it well!!
Triple-doubles on today's rolls!
Check what I said *before* the report!
Oh, and: Cue the MOFO DUMP!
LOL.-7.2MM right in the middle of my prediction!
Rolled and cashed 3x-5x call protection.Ready for whatever.
I'm guessing EIA draw-6 to-8MM or so. Maybe up for the day then tank for a week or so.
Depends where prices are,relative to ETF strike prices.Might buy before and after EIA. We'll see.
lol.Exactly.I love the surge in the minutes before the report.
Good chance for EIA to disappoint. Just saying.
Add your DWT cheapies now...
lol.Contango super tight. WTI gonna let go soon!
Smart.Long ETFs hit so bad this year,re-buying has paid better than rolling most times.Rolled out protection from last week.
Some kind of fun usually follows.API/EIA reports followed by all the retails confused as usual.
LOL today.API on deck.Cue the DUMP!
Yeah, it'll be a 'sell the news' moment soon.
Cue the DUMP!
Nice close.Monthly candle red now.Expecting drop to continue next week.
Just protection.Oil rigs -1 to 764.US rigs:-2 to 950