CL Redux

True, I was about to take it back, but was busy seeing my long euro from 1.2595 (added 1.2611 + added 1.2616) pay for another installment of my SIM Ferrari (didn't take the trade live because I don't like trading the euro after London's close, plus the Spain-Germany semifinal is in a little while, so I thought volume would be shitty).

Coulda, woulda, shoulda

 

Looks like 76 is a good target level :eek:

 

OVX is the volatility index for crude oil. I think its a good monitoring tool.

I'm thinking of trading CL options as a way to trade volatility and longer term moves.

 

Was there EIA yesterday or was it moved to today?

 

today 11 am

 

ok. Never got past the 1030 gas inventories and didn't see that.

Thx.

 

Just shorted .83 out at .84

Edit: Fuck!

 

This report was bearish. We got a dent on Oil inventory, but Gasoline rose. That's what matter.

 

I'd say the report was moderately bullish:

Crude: -4.9 vs. -2.0 expected (tighter supply than expected by -2.9)
Gasoline: +1.2 vs. 0.1 expected (more ample supply by +1.1)
Distillates: +0.3 vs. +1.6 expected (tighter supply by -1.3)

In all -3.1 tighter.

I think oil is dropping because a) it was a bit high and b) ES is tanking

OK, now it's a whole new ball game.

 

You have to remember that the market factored in the api#'s last night 7470 is support now. If broken will probably close flat on the day