I am sitting on my hands, I feel like it could go lower fundamentally, but I question whether that will actually happen. I've been contemplating a position for the past 2 weeks but haven't held anything for more than a day. Still in FRO and have a call on USO for Jan 2016
still long FRO shares from $3.00-$3.11. bought a little more this morning. sold Feb $3 calls at a good profit prior to tank thank goodness! getting long Jan 2016 and 2017 OTM calls. Have a few TNK shares.
I added to my March call position today and put on some catastrophe hedges yesterday. Bought more Feb puts in crude yesterday as well.
Slightly off topic, but what is everyone's thoughts on nat gas today with this big storm coming? I was debating on buying a NG call. I was kind of surprised to see it is down based on how much the news is pumping the story of a historic blizzard.
Apologize for lack of posting this week. On travel in the East so posting will be sporadic for several weeks. Not specifically Hall related, but I found this to be an interesting perspective about the backs. Gunvor has a sharp eye for these markets so I like to be in the same trade as them. Gunvor: no rebound to $100 oil, contango to deepen