There was an announcement that the TransCanada pipeline from Cushing to the gulf coast was going to open in early Jan. 700kbpd pipeline drawing supplies from Cushing => bullish for oil.
My guess is it was more because of currency actions than oil itself. Players that take correlations into consideration had to adjust accordingly. 6E below the channel for a second time so feel free to sell away. I was sad when I got stopped out of the aussie dollar at .9070 but kind of glad I did after waking up this morning. They just threw away their debt ceiling but they also aren't in the mess we are. Seem like this beating should be a buying opportunity with their interest rate but looking at the monthly chart it seems like it could get ugly.
I'm gonna buy a feb 97 call here for 2.26 to cut my delta in half this is like a time stop to to lock in a tiny gain. This isn't going how I pictured it so better safe than sorry. And if we do end up tanking maybe vol will pop and this won't cost me much in the way of gains.