Yes, it does. I'm closing the bulk of my puts at 41.00, this afternoon. 41.81 has held nicely today but is failing into the NYMEX close. I'm going to wait a day and look to open some 43 calls for a bounce, ahead of crude futures options expiration on Tuesday.
Trade closed manually:
Closed my major position in puts at 40.50 this morning. Still have some 40 puts. Will sit in those and see where we go from here. I believe sub-40 will be psychologically hard to swallow given the current generally bullish sentiment that central banks will save the world and US is doing just fine..