04-07-2020, 05:31 PM
(04-07-2020, 01:20 PM)Otter Wrote: Aaand, closed my USO Puts for a 5.4% gain.
I think I will do the same tomorrow, and wait for the next major move in either direction to re-enter. There is no scenario that takes oil higher for very long anytime soon, but who knows what meetings and tweets will cause in the short-term. The Saudis and Russians are not going to cut enough to make a real difference. They know the US cut is nothing more than a lack of storage space for the over-production. It's going to be interesting drama.