# The "Oil Prices" thread. **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [March 10, 2008, 10:44am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739 "2008-03-10T10:44:58Z")\ **Posts on this page:** 20\ **Page:** 90
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [March 20, 2015, 8:05am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1781 "2015-03-20T08:05:57Z")
> [@boxxa](#): > > I still believe the looming financial crisis is being hidden. The world is slowing down and the strong US dollar, cheap oil and rallying stock market is a smoke screen to a major underlying problem. Go ahead and short all of the indexes. 🙂 ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [March 20, 2015, 8:23am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1782 "2015-03-20T08:23:25Z")
Nope. Lol. Not going to fight a trend but I feel the growing global economic system is really going to get ugly. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [March 20, 2015, 10:34am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1783 "2015-03-20T10:34:52Z")
> [@boxxa](#): > > Nope. Lol. Not going to fight a trend but I feel the growing global economic system is really going to get ugly. haha it might! PS rig counts just came out. Down a little but market seems to be a little on the fence here. Checked out some new 52 week lows this week followed by some volatility and looking to end the week around $47. I knew this week would have some good action. ---
**Author:** ![Jimshorts](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jimshorts/32/5915_2.png) [@Jimshorts](https://forums.speedlife.net/u/Jimshorts)\ **Post date:** [March 23, 2015, 5:10am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1784 "2015-03-23T05:10:39Z")
Here are a couple decent oil related articles from zerohedge. > **[Spot The Odd One Out](https://www.zerohedge.com/news/2015-03-22/spot-odd-one-out)** > > We hate to spoil the surprise, but the answer, as clearly shown by the first blue bar on the chart below, is "Energy"... > **[The Perfect Storm For Oil Hits In Two Months: US Crude Production To Soar Just...](https://www.zerohedge.com/news/2015-03-21/perfect-storm-oil-hits-two-months-us-crude-production-soar-just-storage-runs-out)** > > At the current rate of record oil production, storage will be exhausted in under two months, some time in mid-May. At that point, with no more storage to buffer the record oil production, the open market dumping begins and prices of WTI will... ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [March 25, 2015, 11:13am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1785 "2015-03-25T11:13:35Z")
Well. This has all worked out for me so far. On the way down the last few weeks I was buying most of the way down. I usually trade UCO or SCO both 2x ETFs. Anyhow I jumped the gun on the bull move and ended up with a cost basis of 7.11 in UCO but figured time was on my side and waited as it tested low 6.xx a few times. After a nice run up to $7.33(current price) I sold some April 02 calls for .25/share $7.5 strike. This move will protect some of my gains and somewhat goes against my long term strategy but holding a loss for a few weeks makes you get conservative sometimes. 🙂 If we are closing next week out over $7.5 strike I will likely buy back my calls. If it falls a bunch I will gladly keep the position and maybe sell more calls. Happy trading. ---
**Author:** ![snowracer101](https://avatars.discourse-cdn.com/v4/letter/s/258eb7/32.png) [@snowracer101](https://forums.speedlife.net/u/snowracer101)\ **Post date:** [March 25, 2015, 4:42pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1786 "2015-03-25T16:42:57Z")
> [@cougarspeed](#): > > Well. This has all worked out for me so far. On the way down the last few weeks I was buying most of the way down. I usually trade UCO or SCO both 2x ETFs. > > Anyhow I jumped the gun on the bull move and ended up with a cost basis of 7.11 in UCO but figured time was on my side and waited as it tested low 6.xx a few times. After a nice run up to $7.33(current price) I sold some April 02 calls for .25/share $7.5 strike. This move will protect some of my gains and somewhat goes against my long term strategy but holding a loss for a few weeks makes you get conservative sometimes. 🙂 > > If we are closing next week out over $7.5 strike I will likely buy back my calls. If it falls a bunch I will gladly keep the position and maybe sell more calls. > > Happy trading. Do you usually write covered calls on most of your positions? I like them but have been burned from time to time on huge rallies… ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [March 25, 2015, 5:05pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1787 "2015-03-25T17:05:39Z")
> [@snowracer101](#): > > Do you usually write covered calls on most of your positions? I like them but have been burned from time to time on huge rallies… No but if there is this type of volatility and I would be OK with the scenario that they do strike I will. Why didn’t you just buy back your calls? I wouldn’t sell calls if the prospect of being left out of a rally is not already accepted in the strategy since it is basically a risk avoidance tool… To me you sell calls in a situation where you are comfortable with the gains, not real sure where you see the stock in the call duration but don’t necessarily want to walk away. ---
**Author:** ![snowracer101](https://avatars.discourse-cdn.com/v4/letter/s/258eb7/32.png) [@snowracer101](https://forums.speedlife.net/u/snowracer101)\ **Post date:** [March 25, 2015, 6:24pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1788 "2015-03-25T18:24:14Z")
> [@cougarspeed](#): > > No but if there is this type of volatility and I would be OK with the scenario that they do strike I will. Why didn’t you just buy back your calls? > > I wouldn’t sell calls if the prospect of being left out of a rally is not already accepted in the strategy since it is basically a risk avoidance tool… > > To me you sell calls in a situation where you are comfortable with the gains, not real sure where you see the stock in the call duration but don’t necessarily want to walk away. In a few of my cases, it would have been a wash to buy back the calls or roll them out & up. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [March 25, 2015, 6:29pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1789 "2015-03-25T18:29:49Z")
> [@snowracer101](#): > > In a few of my cases, it would have been a wash to buy back the calls or roll them out & up. I got ya. So typically I sell calls in a situation where im going to walk away fat and happy even if it strikes. If I still like the position I will just buy more around that time. I would likely never sell calls that were below my basis. But overall its not something I do often. BTW oil is shooting up in after hours due to Saudi bombing Yemen rebels. ---
**Author:** ![snowracer101](https://avatars.discourse-cdn.com/v4/letter/s/258eb7/32.png) [@snowracer101](https://forums.speedlife.net/u/snowracer101)\ **Post date:** [March 25, 2015, 7:04pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1790 "2015-03-25T19:04:31Z")
> [@cougarspeed](#): > > BTW oil is shooting up in after hours due to Saudi bombing Yemen rebels. is it possible for a retail trader (someone like you or I) to trade in after hours or pre market? ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [March 25, 2015, 7:07pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1791 "2015-03-25T19:07:44Z")
Pre market opens at 4am I can’t remember after hours time. You can trade most commodities almost 24/hrs a day as they trade through foreign markets but I am not sure the process. I just know you jinxed my covered calls! hahaha ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [March 25, 2015, 7:22pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1792 "2015-03-25T19:22:55Z")
> [@cougarspeed](#): > > I got ya. So **typically I sell calls in a situation where im going to walk away fat and happy even if it strikes.** If I still like the position I will just buy more around that time. I would likely never sell calls that were below my basis. But overall its not something I do often. > > BTW oil is shooting up in after hours due to Saudi bombing Yemen rebels. Covered calls, icing on the cake at exit time. 🙂 ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [March 27, 2015, 6:49am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1793 "2015-03-27T06:49:09Z")
I am still waiting to make a move on the calls but at todays UCO value $7.52/current its looking like I would have a good shot at keeping shares but there are still 5 trading days remaining. What I plan to do as the time premium erodes I will look for a buy back in this ~.10 range(sold for .25) hopefully and will resell the following week for two weeks out again hopefully at $8 or $8.5 for .25. Much can change in a few trading days though so we will see. ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [March 30, 2015, 6:48am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1794 "2015-03-30T06:48:11Z")
Stop loss hit on its bounce so cashed out some nice profits. Waiting for a reentry I think. Its fun between oil and the euro. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [March 30, 2015, 6:52am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1795 "2015-03-30T06:52:03Z")
> [@boxxa](#): > > Stop loss hit on its bounce so cashed out some nice profits. Waiting for a reentry I think. Its fun between oil and the euro. Great times to trade both and frankly can make money in either direction. I should be trading the movements but am too busy to pay close attention. I am going to stick in my long position and keep selling cals at a strike im comfortable with if it hits. If we start to get a big panic in the energy sector like we saw in banks during 08-09 I will likely enter long positions in some there as well. ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [March 30, 2015, 7:16am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1796 "2015-03-30T07:16:32Z")
> [@cougarspeed](#): > > Great times to trade both and frankly can make money in either direction. I should be trading the movements but am too busy to pay close attention. I am going to stick in my long position and keep selling cals at a strike im comfortable with if it hits. > > If we start to get a big panic in the energy sector like we saw in banks during 08-09 I will likely enter long positions in some there as well. Ya we need another civil war to break out hard in the middle east to drive price up above $60. Make some money on the long and short it all the way back down. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [March 30, 2015, 7:36am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1797 "2015-03-30T07:36:05Z")
> [@boxxa](#): > > Ya we need another civil war to break out hard in the middle east to drive price up above $60. Make some money on the long and short it all the way back down. I just need all the turbo cars on here to drive a bunch to drive up oil fundamentally. ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [March 30, 2015, 1:56pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1798 "2015-03-30T13:56:56Z")
After Assad’s speech and the Arab Spring stuff, I think we have a run up in the next month a bit. Goes up much faster than it goes down. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [April 6, 2015, 9:52am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1799 "2015-04-06T09:52:08Z")
Oil keeps making a run up toward $52 followed by a big sell off. Could this be the time it breaks through? PS I resold calls to $8.5 Apr 17 contract. ---
**Author:** ![snowracer101](https://avatars.discourse-cdn.com/v4/letter/s/258eb7/32.png) [@snowracer101](https://forums.speedlife.net/u/snowracer101)\ **Post date:** [April 6, 2015, 6:10pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1800 "2015-04-06T18:10:02Z")
i’ve been trading $UWTI… levereaged 3x. making decent returns. [Previous page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=89) [Next page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=91)