I'm Shorting Crude NOW. I've been waiting for this moment, for all my life....

$9 up. Unbelievable.

I meant to say 138, but not now. 140 if I did.

I'm not touching this. Before I even checked Bloomberg last, it was up $7.20.

This is sikk.

Werd.

Tesoro

 

I don't think he'll be able to afford anymore blow if it isn't...

 

USO has sticky K-1 tax issues because it is a limited partnership.
DUG does not correlate exactly with the price of oil.

what other non-futures contract instruments are there to short oil?

 

Yep. Me and Johnnie.

 

What about deep in the money USO puts.

 

we need to make oil a cash only biz.

2 many crooks in the futures game.

pay up or tell your story walking.

 

I am taking a look at them. What do you think about the IV values on them?

 

I truly had no idea that was the case. That sucks. I'm glad you posted that. Thanks.

 

That is the funniest thread title I have ever seen.....it just got me and I don't know why.

I instantly saw Eddie Murphy sitting on the shore at the end of Trading Places....looking good---feeling good

I wish you luck. Hopefully you have the same ending to this trade ending.....


Hilarious title!!!!!

 

If you want to short the USO, just do a synthetic short by Buying an atm put and selling an atm call.

risky as hell though, and your firm must allow it in the first place.

But this will take most of the vega and theta issues out of the equation.

You could buy a put by itself to limit your risk, but the IV is just about as high as it has ever been on the USO. Unlike most instruments, the IV has been increasing as the underlying goes up, so you need to be prepared for the premium to get crushed as USO moves down in your favor.