At what price BP?

Just to put a bit of the other side of the story

Tens of thousands over in UK depend on BP for their dividend payouts and most of those are pensioners.

This doesn't get BP off the hook in any way especially if negligence is proved in court.

Are the local residents down on their local patch of coastline clearing up ? That is something useful the politicians could be organising.

A nice summer job for the unemployed, bird watchers etc. maybe ?

 

At $31, $28.5, $21.

Might rally to around $42, before going down.

 

my wife is a specialist in maritime environmental law

she and i think no

you be your own judge

 

+0.46 on the DO/BP spread. -$1.11 on your SLB/BP suggestion, but thanks anyway.

 

atticus - i thought you are not the typical ET troll but maybe I was wrong.

I was not giving a trade recommendation - rather commenting on a rational behind the trade.
that said i just did look at the 1 month of data to make sure i am not really off the mark - and voila:
http://finance.yahoo.com/echarts?s=...on;ohlcvalues=0;logscale=off;source=undefined
(after clicking the link delete the space before the letter "s" - not sure why it is not parsing correctly)

gl

(btw i was selling BP outright today after the run up - please do not try to do it tomorrow - you may be sorry)

 

I was giving a trade recommendation.

Your statement regarding the stat-arb is absurd. DO is the gearing behind the trade, with no underlying taint. Now, that could change if a DO well blows-up, but your mention of SLB was similarly misplaced. DO has the beta on any surprise closure, and will outperform BP over the duration of the clean-up.

I've been long DO against BP for weeks, at better prices. So no, I am not shorting BP outright. I'll leave that for those gifted traders such as yourself.

Parsing error on your chart, not that it matters.

 

ok - we disagree. that's what makes markets after all.

but to argue with 1 day performance as proving your point is a bit childish....
on top of that there are so many better trades to be have that i really can't be bothered by DO/BP switch.

(yup i realized the error but somehow ET parser always changes it back - space before the "s" must be manually deleted )

gl

 

IMO, one of the most misguided comments on this site, by anyone. GL to you as well.

 

I picked up 3 points in SLB outright, posted to this thread, and 40% on the 55 calendar as well. In any event, I'd rather be long DO than SLB against BP.

 

We'll see how DO/BP does over say the next 60 days. Until then it's conversation.