@AshaDi, i am letting it run... it must break the bottom at 42.... and move beyond... for this we need to see strong movement today... and tomorrow...
AshaDi
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@LoLBeach, um......today already kinda savage, and where will u put the SL?
CodedFlow
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@AshaDi, i put no SL - this deal cannot turn too much already. the dynamics is against turning already and in my favor. still, if you need something to target: 52.97 should be fine.
@AshaDi, what instrument do you use to trade oil ?
UnsungTraderTV
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@LoLBeach, Interesting thread. I am using options for WTI (W&T Offshore Inc on NYSE) expiring on 15 March. $5 put entered at $0.50 per share ($50 per contract of 100 shares). WTI sitting at $4.85 after a 10% drop. Currently, ~20% profit with conservative sell price of $0.60. Beware that volume is very low for this option -- much attention is required. Profit taking at $4.00 (sell 50% to pay for trade with half options still on the table), $3.75, $3.40, $3.10 $2.80 (long shot), $2.10 (very long shot). Stop losses at logic points once $4.50 is reached.