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Re: snow post# 2382

Wednesday, 08/10/2022 5:48:21 AM

Wednesday, August 10, 2022 5:48:21 AM

Post# of 4325
The strike price for VTNR's swaps is $14.77.
It is hard to believe, but I think they hedged at that price in March/April, right before the rally in prices. They basically gave up 50% of profits although in reality it is a bit more than that even.

They did it because they had just acquired the refinery and didn't know where prices would go, and still wanted to guarantee a steady flow of income.

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