@rukepedia, Expired. Expectation is this summer will see a rebound upwards.
iRunShow
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very nice call
itsQure
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What makes you think this will occur? Are you thinking that bailouts will come by then or a cut in production will increase the price? Personally would wait till there is talk of a new bill, but I also don't think this is a call.. I just want your opinion.
hungry_hippo
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@itsQure, virus case number are gonna rise for at least another couple of weeks, if not longer, so I don't see oil heading up any time soon. I'd be inclined to make the same bet (out of the money USO calls) next month instead....
Oil may actually head to the next support which would be an amazing 16/barrel. That's giving it away, lol. But they might have to if they run out of storage...
emperius
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@itsQure, A combination of Q1 numbers, unemployment numbers, and general contrarian technical reactionary trade. Long term though, oil will continue downwards, and there are articles on possible negative prices, who knows. We saw gold and bonds drop when equities crashed simultaneously, there's no common sense in the markets anymore!
azn_trader
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@itsQure, I think you could be right on this. I'm verry bullish on oil now. Too many people are saying that oil will go to $10 or zero which is free. That is not realistic. I think Trump is going to do something to help the US oil. I think the squeeze is coming for all the shorts out there. When the mass is bearish. I would like to be on the other side.
itsQure
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@azn_trader, Well Trump did intervene. Although it is just talk as of right now, but still this guy who posted this option call is probably laughing at me now. I was surprised it came so early. I will be watching what Trump has to say after meeting the oil company executives tommorow... should be interesting.
azn_trader
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@itsQure, I think the oil can go up easy above 30 for next couple months to clean out the shorts. People are way to bearish on oil now.
emperius
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@itsQure, Wasn't easy! Emotions are everything in trading.