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Showing content with the highest reputation since 08/09/2019 in Blog Comments

  1. 6 points
    My current WTI portfolio is long and drawn out. I am new to the site and I'm not sure of the interest in options trading from the market makers perspective. If anyone is interested just let me know and I'll post it.
  2. 3 points
    I don't have a position in anything now. Unfortunately I'm a newbie and I only trade futures for now. I only understand your strategy partially, sufficient to understand that you make $$$ in a much safer way than me and most others. I knew about your strategy before I ran into you on investing. My intent is to one day do what you do but cannot at the moment due to lack of options understanding. I looked for educational material, institutions where I could learn options but have not found anything yet. I inquired with Online Trading Academy but they did not provide me enough confidence that they could teach me what I want.
  3. 2 points
    Great read, what a wealth of tips, will be referring to it. I love the quote " You're going to need to source all of the castings or a complete unmolested engine in need of a little love. For a peaceful, fun-loving street engine you can build quite the 292- or 312ci Y-block and have plenty of power for the cruise. And torque is the kind of power you want on the street."
  4. 2 points
    This is a 312 cu in Y-block out of a Thunderbird running dual carbs. This is what you are shooting for. Distributor IS in the back.
  5. 2 points
    Thanks OP. I plan to hold the RBOB spread for a few months, I'm looking for parity, but will monitor CV19 developments
  6. 2 points
    Do you currently have a position in WTI ? My Jan and Feb contracts both have 58 calls written against them. My 4 short March contracts at $56.75 are hedged against any loss up until about $57.75 on the March. All contracts have plenty of time left. I sell time. I'm very patient. My orders are placed. If you're drawing a conclusion of where WTI will be just by looking at the current price you're looking in the wrong place. You have to be in it to win it. If Jan contracts expired today at 58.35 my 2Jan contracts would get called away at $58.00 but I would keep the $1.25 I received today from Selling to Open the 2 Jan 58 calls. My net sell price would be $58.00 + 1.25 or 59.25. The net Purchase Price is 50.15 so my profit is $9.10/barrel/ contract or $18,200. I would have $118,500 in my cash account. I am currently short 4 March contracts at 56.75. The March contract closed today at $57.95. I would short 2 March contracts at this price giving me 6 short March contracts at avg of 57.15. Remember I still have 2 long Feb contracts at $53.00 with 58 calls written against them at $3.00 with a target of 75 cents. Feb contracts are about 58.15. I'm not that tied in to contract prices as I am in my strategy. This is not retail trading. I hold my contracts all the way to expiration. So obviously the price of the contract is not that relevant. Retail traders find it nearly impossible to comprehend that. It's all about the options. If WTI continues up and the Feb contract expires at, lets say for example $60, then my Feb contracts get called away from me at $58 but I keep the $3.00 from the 58 call I received giving me a sell price of $58.00 + 3.00 or $61.00. The net purchase price for the Feb contracts is 48.65. The profit on the trade would be $61.00-48.65= $12.35/barrel/contract or $24,700. I would then short 2 more March contracts giving me a total of 8 short March contracts somewhere in the high $57s for an average. If my target of 52.50 is achieved the profit will be in excess of $40,000.
  7. 2 points
    Gary, have you read much Ray Dalio?
  8. 1 point
    Great idea! Those ‘moon’ hubcaps are classic and period correct.
  9. 1 point
    Hey guys. Haven't checked in in a few days. What's going on? Any progress in the shop?
  10. 1 point
    See if you can download a Chilton’s Manual for ANY Ford model which ran a 292 Y-block. Since we are not sure of the year, and we know they were built in South America until 1980, just go for the latest you can find.
  11. 1 point
    We live in a very special time, indeed. If you have an unserviceable part, you can find another one somewhere, or it can be copied and reproduced. Have you guys experimented at all with 3D printing? Just curious what's going on back in the West on that front. Haven't lived there for a long time now.
  12. 1 point
  13. 1 point
    When I see these kinds of places I see treasure and drool, you haven't seen anything yet wait till I show you the parts section behind this guys house.
  14. 1 point
  15. 1 point
  16. 1 point
    Just a hint.... Take tons of photos as you tear the car and engine apart....they will prevent much weeping and gnashing of teeth later!!!
  17. 1 point
    That is one ugly car!😂
  18. 1 point
    Guess I should buy stock in WD40! Are those headers salvageable! On most old Fords the distributor is on the front of the engine, not by the firewall. Need to look into this.
  19. 1 point
    Thanks Dan and glad you commented as now we know this will be a good way to communicate, better that a thread, just need to get Doug savvied up on how to access the blog, as he will love this, he said same as you actually would have been great to have all of us in the same place, to enjoy this build...
  20. 1 point
    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
  21. 1 point
  22. 1 point
    Crude Oil Inventories 13.834M
  23. 1 point
    Long 10 CLK20 @22.01 average Short 7 CLZ20 @30.72 average May contracts expire April 23rd
  24. 1 point
    Just bought 2 longs at 21.00
  25. 1 point
    No one will put all their eggs in one basket. The US will now mandate that drugs, medical equipment and the such will have to have a percentage manufactured in the good ole' USofA! The laws already exists. My wife's company she represents (PCB's) has already sold off 4 China facilities last month. Work is coming back on-shore. Manufacturing will now be spread out and not be concentrated.
  26. 1 point
    I would advise you to buy 1 April contract and short 1 Apr 54 put. Your Net Purchase Price would be around $49.50. Keep the rest of the funds as a safety net, but theoretically do the same trade for May as the trade for April so you can study the differences.
  27. 1 point
    I placed orders to sell to open 54 puts, 2 of April and 2 July over night, they executed and closed them earlier in the day today for a gain of $1020. I also bought and sold future contracts of RBOB an CL for a gain of $1568.
  28. 1 point
    You're going to make a lot of money. Sold to Open my May 54 puts at $3.77 and June 54 puts at $4.03.
  29. 1 point
    It always looks bleakest before a turn around. Every bit of news in regard to oil gets overblown in the futures market. Long 8 WTI contracts with 8 54 puts shorted against them. Mar contract expires on Feb 20th. Plenty of time. Huge imbalance in the options market suggests higher prices for WTI. Expecting a sideways trading pattern for the rest of the week.
  30. 1 point
    As they say "buy when there is blood in the streets"...
  31. 1 point
    OilProspector + 1, Congratulations.
  32. 1 point
    Exceeded weekly goal... Actual trying to get to six figures a MONTH. Time will tell. It's just a goal. Have a great weekend all!
  33. 1 point
    Exited 5500 DWT at $4.70, (when WTI was @ $54.85, close enough to my $54 target) entry was $3.94, total profit $4180. Not Gary-level profits, but getting there.
  34. 1 point
    Still short 8 March contracts at $58.05. My target first target is in the $53-54 range to flip 2 short Mar contracts into 2 long Sept contracts and then immediately short 2 Sept 54 puts.
  35. 1 point
    Jan 13 2020 WTI hit $58.20 in early morning to cause my " Buy to Close" order to execute at 75 cents for the 2 Feb 58 calls that were "Sold to Open" at $3.00. This completed transaction lowered my Net Purchase Price for the 2 Feb contracts to $47.58. This allows me to sell my 2 Feb contracts and short 2 March contracts and that is what I've done. I sold the 2 Feb contracts at $58.25 and shorted 2 March contracts also at $58.25 giving me an average of $58.05 on 8 short March contracts. The current price for the March contract is $58.35. Profit on the Feb Options strategy is 2,000 × ( 58.25 - 47.58 ) = $21,340. Current position is short 8 March contracts at $58.05. Raised the stop on 5 Feb 63 puts to $4.00 locking in $15,000 of profit on 5,000 in capital. Last trade went through at 4.65. If WTI dips below $58.00 I will raise the stop to 4.50, but WTI seems to be heading higher. Raised the stop to $4.50 as it looks like WTI will close around $58.05. Short 8 March contracts at $58.05 and long 5 Feb 63 puts at $1.00. Both positions did quite well today. With a stop of $4.50 on my 5 Feb 63 puts I locked in $17,500 profit. Will move the stop to $5.00 should WTI get to $57.50.
  36. 1 point
    Gary long term no one is as good as you , eventually it come down to earth but bro how do you trade extraordinary time like now . Wish you luck . Those 6 puts ouch ! How do you hold on to those as time , this time is against you . OilP are you from investing ? If so who are you . I am one of the original wolf packs of Gary
  37. 1 point
    Gary did you just double down on betting CL price going down with purchase of 6 Feb puts ? Why ? Iran crisis not gonna drive oil up ? Or because you think it’s a set up like the last drone attack . Pricing fall right after that .
  38. 1 point
    I looked over your earlier posts (from Nov 23 on Investing...) and I think it is my mistake -- you were pretty clear that you were shorting 4 March contracts until they hit $54, then would go long 2 March and 2 April. Hypothetical: Say you didn't have the conviction that March contracts would decline over the near term, how would you invest the proceeds from closing the Jan options positions if you wanted to stick to this strategy? Put another way, if you can't enter the trade at $54, would you consider following: Buy April contract at ~$60, sell a $61 call for $2.52, a $54 put for $1.10 (or wait until the price falls and sell then), and go short a March contract to hedge any losses from long April position? If the price rises, you will have losses from the hedge, one possible outcome, and your profit is only from the time decay on the options. But you can get into that game, not have to wait for the price to fall below $54. Or am I missing something critical? Thanks.
  39. 1 point
  40. 1 point
    Greetings Gary and RRH . Miss you very much Gary and thanks to Red’s effort I found you at last . Something is not right with investing. Com when they have moderators in collusion with ignorant traders. Some kind of hidden agender or just bad management when they believe the ignorant and forgo the truly excellent . It’s their loss .
  41. 1 point
    Dec 6 2019 Today the Jan WTI contract is trading at $59.58. If today was options expiration ( but it's not ) my Jan contracts would get called away from me at $58.00 since I am short Jan 58 calls against them at $1.25. As a result I get to keep the entire $1.25 call premium I received netting a Sale Price of $58.00 + 1.25 or 59.25. The net purchase price for the Jan contracts is 50.15 so the profit on the Jan Options strategy is $59.25 - 50.15 or $9.10/barrel/contract or $18,200 profit on the pair. If today was options expiration and I had closed my Jan contracts I would then short 2 March contracts at the current price of $59.16. This trade would be averaged in to 4 March contracts at $56.75 thus giving me 6 short March contracts at an avg of 57.55. At 6 × ( 59.16-57.55) this would be a current loss of $9,660. When the Feb options expire I will do the same as to roll over 2 more March contracts giving me 8 short March contracts.
  42. 1 point
    Thanks Robinhood. That's a kind gesture, but Investing.com has become overrun by "people" that have no clue to what they are doing and as a result are even more cluelese about what I do. S'ok by me. Not in search of "followers". I was expecting that some traders would take an interest in the WTI options strategy but most were content to just be combative or liars. This site is more conducive to sharing strategy. I go back occasionally to WTI and see fresh faces doing the same one-upmanship. That's why I moved to the OVX board. And then that became polluted. Much better off here. I don't need a crowd. I don't need adulation. What I need is someone to kick my *** in trading so I may learn something new. There is no knowledge on the WTI board that will enable me to further my strategy. It's just nickle and dimers. In the reality of trading that's considered " crumbs". Only 5% of traders make a living on crumbs. It's a never ending cycle for them. If they don't trade their income goes to zero immediately. I am preparing to sail the Caribbean next fall and anticipate being out of range for a week or so at a time. My strategy is very simple and low maintainence. It will allow me the peace of mind to enjoy myself in the company of dolphins instead of combative lying traders.
  43. 1 point
    Gary, I am here too. I found you! Btw nobody posted you were gonna be here but I do not blame them... I tried leading a petition to get your account back but my posts keep getting deleted (your "fans" must have reported my posts obviously). If you wanna go elsewhere like stocktwits or slack, just let us know. I have been posting my analysis over there but tired of the swine who mock me and then profit off it.
  44. 1 point
    Dec 4 2019 Order to Sell to Open 2 Jan 58 calls at $1.25 executed when the Jan contract got to $57.75. Target to Buy to Close: 25 cents.
  45. 1 point
    Dec 4 2019 Calculation of the Feb Options Strategy Profit: Bought 2 Feb contracts at $53.00 Sold to Open 2 Feb 54 puts at $4.22 Bought to Close 2 Feb 54 puts at $1.05 Profit per contract: $4.22-1.05= $3.17 Sold to Open 2 Feb 58 calls at $3.00. Target: 75 cents. Currently $1.82 Feb contract currently $56.89 Purchase Price - Put trade profit= Net Purchase Price. $53.00-3.17= 49.83 Subtract the unrealized profit from the short-58 call of $3.00-1.82 that is still working and the Net Purchase Price becomes $49.83-1.18 or 48.65 The Feb contract is currently at $56.89 so the profit per contract at this time is $56.89-48.65 or $8.24/barrel/contract or $16,480 for both Feb contracts so far.
  46. 1 point
    There are a few traders on Investing.com WTI and OVX boards that are seriously missing my trading posts. I got banned for pointing out the deception and fraud of dozens of posters on the WTI board. The OVX board is the Oil Volatilty Index. All my trades are posted there up until a week ago. Post that Gary LeBlanc is at OilPrice.com. I can't. The wolfpack will appreciate it.
  47. 1 point
    No. I have not. What does he write about ?
  48. 1 point
    a bachelor's degree in finance and a master's degree in economics are also complete shit for trading ... I laugh when morons from banks and companies require this garbage from workers ... a trader with a system is a gift from God😍
  49. 1 point
    This is where you square up and close the longs at daily supply 🤑
  50. 1 point
    Before oil humans may have had a brief vibrant life and then died at an average age of 35. You can celebrate the winning. I’ll take the losing with all its faults. As far as Iran goes ask them to act like Sweden and they to could join the free world instead of having to cultivate relationships with Russia, China, N Korea, Syria and other countries where humans have few rights and are dominated by a handful. Democracies are far from perfect and are still a work in progress. Our leaders are rejected on a routine basis. But hey, there is hope eternal for more cooperation and common sense. Just being able to type this on a public forum without fear should be a worldwide right. One that Iran and those other countries don’t have.