alleytrader

Oil/WTI calendar spread sets up again

This trade location is approaching again and it again could be a great trade. However i am liking the opposite trade more now due to the rising prices in oil . So the short could be a nice fast scalp but the trade I will focus on, as long as oil is seeking higher values, is a long of the bottom of this upper range.
Comment: the same trade repeating itself
Comment: we will be a few days before this trigger happens now, so just waiting and watching. Remember I did say in original post the long side from a drop would be good
Comment: we now have the trigger for the second trade in this thread, good luck, 2.39 is my entry price
Comment: up $140 per pair so closing half, a bit over 20% ROC
Comment: this trade is now reduced down to 1 contract, and closed this last group with $190 each, now remember the trade only took $680 of capital to trade so a 28% return in about a week
Trade active: This trade, what is left of it is doing very well and could be closed at anytime. I however will keep holding and now and again update the progress.
One thing to remember when trading these types of spreads is that in the off hours the front contract can trade and the back contract may not so the loss or gain in the trade can look much larger than it realistically is. After market opens if there is a wider spread than the really should be it will close up soon after open.
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So you are looking to sell the spread at 2.39 thinking it will go back to a contango?
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still have the runner, but will rinse and repeat this trade
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closing this trade except 1 contract. I will let this one run as long as we do not go above the current high
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In just a few days right around 50% ROC, on the part still holding, GO BABY GO!
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This market moved now to 2.02, and I had a average cost of 2.07 so closed half teh trade with 5 point gain that make the first half of the trade a 8.5% gain on capital used in two days
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i was just looking on my platforms chart and we do not have this triggering until the move drops below 2.07 so no rush we should have plenty of time to get a trigger and a bit of a move against for good fill
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so todays move can now be used as a trigger and i will be adding second tranche. I will see if it moves against me again and get a better price, but am willing to take this at any place now. If you wish the top formed after today is done will be a great place to have your protection just above.
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Tomorrow is setting up to be giving me one more bullet for this trade
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