Sold a lots of Puts... hopefully, we can get some bounces by mid-week.

This post has been edited by danmooncake: Sep 27 2016, 01:06 AM

I am only confident even if they do nothing,
Oil should not drop below $43 by end of this week.
Maybe a small dip to 42.50 if all else fail because of Iran, but it should hold.
At near $43, it seems the buyers will step in.

I got some room to maneuver from last week gains but if Iran continues to be defiant and wanted to double their production instead of holding at same level or sudden US rigs count increases, then, I'll be caught holding a lot of shares of XLE by end of this week.

This post has been edited by danmooncake: Sep 27 2016, 01:27 AM

There is also Trump vs Clinton debate in 6~7 hours time. Should be interested to see how market reacts the following day.

Yesterday up 3%, today down 3%. Roller coaster ride again.

Phew! so far $44 is holding,.at least got some room for tomorrow event.

If they do nothing, then I don't think Oil will move big either way.

But, gotta to stay above $43 by Friday closing..

This post has been edited by danmooncake: Sep 28 2016, 04:16 AM

Easy easy easy... a bit of relief here.

Nice!!

The oil world is not ending.

Now, I wish I got more long side play.

Supernice.. we'll at the top side of the price range here finally: $48.

Maybe it will even attempt to get to $50 but I'm going to take some off here.
Rest I will leave for option expiration. This is going to be a good week.

What a relief.. earlier part of the week, I thought going to be handed a huge boatload of shares.

I hope it won't break out so soon.. I kinda like it while it is still between this range: $43-$48.

This post has been edited by danmooncake: Sep 30 2016, 12:16 AM

Even rig count rises, the bulls aren't afraid anymore because of the OPEC pseudo agreement that basically like most agree - we got floor at the low 40s.

Now, the question is, is this enough to push Oil back over $50?

Personally, I hope it won't.. I kinda still like it here between $43-$48. This is where I made most money.

Tonight, all options expired worthless and next week calls are good premium to sell too.

I like to see another pull back by next week.. maybe make it rolls back to $46 also acceptable.

This post has been edited by danmooncake: Oct 1 2016, 01:17 AM

Well, as a trader, I am hoping their "agreement" will fall apart as it gets closer to the next meeting.
More skeptism and disagreement will arise.

I think a lot of people the market just won't believe them anymore.

https://www.yahoo.com/finance/news/david-pe...-103820300.html

I hope so too... let Oil continues to linger down here for another two or more quarters...
or until Yellen raise another 25bps to 50bps in rate.

Darn...Oil vol down (^OVX), premium cheap. Can't make enough to sell 'em now.

Just long commons and buy protection and wait for another black swan.

Wow.. reached $49 already.. just $1 more to go.

UWTI is about break above that resistance line.

No volatility tonight...

Wow.. those inventory numbers should help crude to blast thru that $50 barrier now.

Perhaps not yet... since there's a storm in Florida, the bulls may get excited again
if there's a disaster later. They'll claim there's petrol/gas shortage later because people are evacuating.

At the early hours.. the dips came in Dow -3 digits after the UE report, now they're quickly bought back.
The bulls are hungrier than the bears.

UWTI looks like it has broken free...

XLE now very bullish. But, it seems to be in the supply zone now.
I want to come back down again so that I can rebuy and sell more puts with higher premium.

Sounds like they wanted to "raise" the limit.

They're taking money off the table tonight for the general market but heck..
Oil still quite strong despite some pull back. Hasn't reach the last low yet. Need that $50 to break down.

Ugly day for general market but Oil still holding up strong here.