Yeah, plus BAC returns 3% as of now. That's not horrible.
Right now, if I go out to 1/18 2021 the 25 calls are sitting at $2.71. If I get put the stock I might just go way out there.
Yeah, plus BAC returns 3% as of now. That's not horrible.
Right now, if I go out to 1/18 2021 the 25 calls are sitting at $2.71. If I get put the stock I might just go way out there.
- Aug 4, 2000
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QQQs are at $213. If the second round of PPP funding gets delayed further this week over politics, the market may lose confidence and retrace QQQ $200.
Edit: Also earnings fail.
Edit: Also earnings fail.
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KB
Diamond Member
- Nov 8, 1999
- 5,406
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- Aug 4, 2000
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Not seeing any bargains right now. Flipped some Spice this morning, sold.
What really kills me is that I was looking at Antero Resources (AR) at $1 but was afraid to trade it since oil is the worst sector...ever.
Dam thing is like a rocket ship now $1.77, not sure why. Missed out on it, and still afraid to touch it.
Ok, so oil companies are facing the apocalypse and bankruptcy. Antero Resources? Now $2.10.
Edit: Maybe short covering rally. Next month oil contract is $15, no reason to buy any oil co.
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None - really? Even for long term?
Let's be honest, once economies start rolling - cars and planes will start rolling again. Once that happens it will immediately shoot up.... Not to $50/barrel by any means, but from $0.10 to $15 doesn't seem crazy.
- Aug 4, 2000
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July contract and beyond is pricing $30 a barrel.....for now. May is toast, June off 25% today.
Miramonti
Lifer
- Aug 26, 2000
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ponyo
Lifer
- Feb 14, 2002
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Sold 2 more TSLA May 1st $550 puts for $10.30 each this morning. These will expire 2 days after TSLA Q1 earnings. So it's slightly riskier play since TSLA could fall after Q1 earnings release. But I still like my chance these puts will expire worthless.
ponyo
Lifer
- Feb 14, 2002
- 19,688
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USO ETF just became closed fund this morning and OIL ETF is liquidating. So you might see things calm down little bit as these two ETFs wind down.
Miramonti
Lifer
- Aug 26, 2000
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When is it supposed to close? Looks pretty open to me at $2.93 and taking orders.
/edit: June futures just hit $13 again.
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ponyo
Lifer
- Feb 14, 2002
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https://www.streetinsider.com/Commodities/United+States+Oil+Fund+(USO)+says+USCF+management+is+suspending+ability+of+USO+Authorized+Purchasers+to+purchase+new+creation+baskets/16765783.html?si_client=intbro
It's going to continue to trade but it's basically become closed end fund. USO is flawed product and should've been put out to pasture years ago.
Miramonti
Lifer
- Aug 26, 2000
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I really don't understand what suspending Creation Baskets means, or what Redemption Baskets are lol.
ponyo
Lifer
- Feb 14, 2002
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Miramonti
Lifer
- Aug 26, 2000
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D@mn why don't they just say that, lol. Seriously tho, June is near $11.50 now, and I think we know where this is going.
ponyo
Lifer
- Feb 14, 2002
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I'm only guessing. I don't know lawyer speak either. But the story came across my IB trading news feed this morning. I don't trade futures, and I don't really follow oil.
Miramonti
Lifer
- Aug 26, 2000
- 28,653
- 100
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I've just been plugging the futures into IB lately too, except I've been tracking USO this whole year. I almost bought some at $12.50ish in January, for the long haul, but thankfully didn't.
- Aug 4, 2000
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Invest in oil they said....
....price goes negative...
I warned people to stay away from oil, not just here but everywhere.
They are for daytrades only, just like REITs. Toxic sectors.
And no, now is not the time buy oil cos unless you are hoping for a quick bounce you can sell into.
Sadly I sold my SQQQ calls too early. Money managers are on the phone right now peading for the government to rig markets again in longs favor, so dont be surprised to see a market or oil bounce.
....price goes negative...
I warned people to stay away from oil, not just here but everywhere.
They are for daytrades only, just like REITs. Toxic sectors.
And no, now is not the time buy oil cos unless you are hoping for a quick bounce you can sell into.
Sadly I sold my SQQQ calls too early. Money managers are on the phone right now peading for the government to rig markets again in longs favor, so dont be surprised to see a market or oil bounce.
Miramonti
Lifer
- Aug 26, 2000
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Oil was supposed to be a good investment because it's 'finite supply' will run out...yep.
- Aug 4, 2000
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Oil was supposed to be a good investment because it's 'finite supply' will run out...yep.
In absolute terms "peak oil" is real, but I doubt we will live long enough to see it.
Heck I remember Jimmy Carter back in the 1970s on TV begging Americans to conserve energy. Im am not against conservation, but times sure have changed.
JEDI
Lifer
- Sep 25, 2001
- 29,391
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i hope the market bounces bigly.
i need sqqq to go down to 11 for my limit order then the DOW can tank to 18.5k
WhoBeDaPlaya
Diamond Member
- Sep 15, 2000
- 7,415
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- Aug 4, 2000
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June crude contract hit low of $9.50, now $13.50.......soon gas stations will PAY YOU to fill up with gas!
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