Gary LeBlanc

Gary LeBlanc Portfolio: 20 Days to expiration on 04/16/20 (May Series)

Edited March 29, 2020 by OilProspector

Any ideas about the 3.50 spread between may and june. Will this narrow? April/may was about .70. Thanks

Edited March 28, 2020 by Barney2210

7 minutes ago, Barney2210 said:

Any ideas about the 3.50 spread between may and june. Will this narrow? April/may was about .70. Thanks

Above my pay grade... too many evil forces that control the price of oil... I just play the intraday moves myself with a side of (1~2 cars) of swing trades.

Thanks oil prospector. I am going back to flipping a coin

OP, I plan to hold to expiry of the May contract. There was an early opportunity to pocket $15K, but let it run, hence down at the moment. I'll update when markets reopen.

R

18 hours ago, Barney2210 said:

Any ideas about the 3.50 spread between may and june. Will this narrow? April/may was about .70. Thanks

Barney, I think it can be misleading to use absolute values, better to look at the spread as a %. At close Friday C1-C2 it was around 14%,which is definitely huge, historically. But you'd only have until April 21st to hope for news positive enough to lift the May contract, relative to one month later.

Edited March 29, 2020 by rog1111

On 3/29/2020 at 10:46 AM, rog1111 said:

OP, I plan to hold to expiry of the May contract. There was an early opportunity to pocket $15K, but let it run, hence down at the moment. I'll update when markets reopen.

R

Pity the Dept of Energy cancelled their stated plans to buy crude for the SPR. I didn’t see that coming. June-Dec would have been a better spread than my current May-Dec position. I’m now sitting on a loss (approx $34 K), waiting for some positive short term US oil news. It’s going to be tight!

1 hour ago, rog1111 said:

Pity the Dept of Energy cancelled their stated plans to buy crude for the SPR. I didn’t see that coming. June-Dec would have been a better spread than my current May-Dec position. I’m now sitting on a loss (approx $34 K), waiting for some positive short term US oil news. It’s going to be tight!

Interesting that the spread has widened. Fasten seat-belt!

Edited March 30, 2020 by OilProspector

L2 @ $21.00 Swing Trade ~ Target $22.50

9 hours ago, OilProspector said:

L2 @ $21.00 Swing Trade ~ Target $22.50

Well that didn't work out ~ reversed... S2 @ 20.15  Target $19.30  (Hope I'm not caught in a chop zone!)

API Weekly Crude Oil Stock

+10.485M

Seevol Cushing Storage Report

+3.390M

Crude Oil Inventories

13.834M

On 3/31/2020 at 3:52 PM, OilProspector said:

Well that didn't work out ~ reversed... S2 @ 20.15  Target $19.30  (Hope I'm not caught in a chop zone!)

Added 2 more short cars to my S2 ($20.15) @ $21.52 and exited the 4 @ $20.82 and then went L2 @ 20.82. Target @ $21.82

Hopefully these will hit target. Living dangerously. 

Edited April 2, 2020 by OilProspector

8 hours ago, OilProspector said:

Added 2 more short cars to my S2 ($20.15) @ $21.52 and exited the 4 @ $20.82 and then went L2 @ 20.82. Target @ $21.82

Hopefully these will hit target. Living dangerously. 

Phew, it's a bit choppy...

12 hours ago, OilProspector said:

Added 2 more short cars to my S2 ($20.15) @ $21.52 and exited the 4 @ $20.82 and then went L2 @ 20.82. Target @ $21.82

Hopefully these will hit target. Living dangerously. 

Target hit last night  ~ so basically up a whopping +$300 for all that effort above. LOL! (Basically I like to get back to B/E and then evaluate for the next swing trade... )

 

1 hour ago, OilProspector said:

Target hit last night  ~ so basically up a whopping +$300 for all that effort above. LOL! (Basically I like to get back to B/E and then evaluate for the next swing trade... )

 

No sweat lol

9 minutes ago, rog1111 said:

No sweat lol

Hey... your spread trade is looking better!

July v Aug RBOB is trading at a large discount. I'm assuming it will narrow by Summer, due to improving US virus scenario and a little bit of seasonal impetus. Therefore:

Long 6 RBN0 at 0.7029

Short 6 RBQ0 at 0.7566

It's a waiting game for sure, so we'll see

1 minute ago, OilProspector said:

Hey... your spread trade is looking better!

The pressure is off a little, for now at least!

 

36 minutes ago, rog1111 said:

The pressure is off a little, for now at least!

 

Are you covering?

Sold 2 longs bought March 18 from 21.00 at 26.52

3 hours ago, OilProspector said:

Are you covering?

Holding...

2 hours ago, rog1111 said:

Holding...

Don't pull a Gary!  Best of luck!

10 minutes ago, OilProspector said:

Don't pull a Gary!  Best of luck!

Scaled out! STC 10 CLK0 at ave 24.93, BTC 7 at CLZ0 ave 32.40, for a reasonable profit.

Maybe too soon, but it's a wild market! I'll sleep better at least