Still a big bull...but today I'm 100%DWTI.For now.
Strange how I got here.
Before the reports, I was loaded with UWTI and call side heave spreads.
After EIA, I dumped most of the Put side, thinking they could all expire worthless this week. Oops.
So after the Fed minutes were out, I was caught by surprise and wanted downside protection for the Call postitions. Didn't have time to buy back the 4 put positions that I just dumped and they were rising...fast.
S__T! What to do?
Bought a bunch of DWTI. About half of what I could with settled cash. In at high $74s.
After re-assesing the risk and damage for the day, I doubled up on the D or right about 80% $ wise of my remianing U position. 2nd buy @ mid $76s.
This morning, I decide to dump all the UWTI. Looks like a local top, and the shares would still net me +$7 gains.
Sold half the D when it topped $82. Cost of the options covered.
So right now I'm only holding D and Calls. Weird.
