That opportunity is worth $1k per short contract per $1 dollar change down.....or $10k per contract bet.
So many algos cried out in terror today with InvalidPriceException and were suddenly silenced. So good old phone in your broker when shit hits the fan, it is.
Well, yeah, but weren't we talking about production cut and how best to stop the bleeding? My point was that cutting production at this time is no better than applying a band-aid to the slit wrist. It ain't gonna help, just as the cut from OPEC+ hasn't done much, if anything.