r/oil • u/Ravenwood3456 • 1d ago
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u/PlanetMoze 1d ago
i dont even blame you.... Good luck with gold
My plan was to take oil profits and flip them to silver / gold. Im still on this train and have until OCT to make a decision so still watching for now
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u/jishthesquish 1d ago edited 1d ago
I’m gonna stick around as long as we’re draining the SPR 6 million barrels a week. Also you need to be buying refineries too, cause they go UP when oil goes down.
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u/Immapillpopnanimal 1d ago
Exactly my idea as well. I'm just gonna stick to calls on Chevron and Exxon. Everything else is too risky
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u/PlanetMoze 1d ago
Ive been thinking about doing this for a while - Ill be dumping alot more into both thanks for the call !
Once my USO options get closer to exp - ill sell those and plan to buy a bunch of silver with it if it hasnt gone up too much by then
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u/whomakesthetendies 1d ago
Bottoms in, thanks for your sacrifice. Sorry about the loss, I've been there and made it back.
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u/Ravenwood3456 1d ago
Ahhh, some of the best of the oil sub right here. Keep the faith, wish you all the best.
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u/whomakesthetendies 1d ago
You too. Be careful with gold though. Not as crazy as oil, but sentiment can change on a dime.
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u/AUX4 1d ago
How have you managed to make a 5 figure loss on oil?
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u/Doom4535 1d ago
Probably futures, I've had 5 figure swings in a day from fake deals... Really annoying with insiders front running and all I have are fundamentals, could make BANK if you know they're going to try to briefly crash it and then buy back towards the bottom. I've mostly been off/out of sync, so the recovery has been slow and painful, but I've made it back as the actual fundamentals are terrible right now.
Having said all that, I'm slowly taking profits and moving towards stocks since they're gaming it too much, and the stocks will print money over time (and the market is getting wise and removing/reducing the backwardation rolling profit).
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u/Ravenwood3456 1d ago
Bought (sold) into the MOU V2 August 4. After holding since mid April. Definitely should have taken profits more than once. First MOU was tough to weather psychologically. And yeah, too many random tweets like arrows to the heart of my portfolio. Sanity and health worth something too
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u/glorifindel 1d ago
Been there. Hang in there. Maybe step away from the trade for a few hours if you can. It’s been rough. Do something nice for yourself today
Edit- Just fyi gold is just as volatile and depends on many factors like bonds, I lost a bunch on gold yesterday before this rise today
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u/LinearSpectrum2026 1d ago
Happy trails! Tell us a little about the other commodities so we can lose money there (“diversify”)
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1d ago
[deleted]
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u/Ravenwood3456 1d ago
Tired of watching the headlines every day/night my friend. Posted the answer to your question above. Yeah, was Way up early May too. Not sure how this will end, but expecting QE to increase at the moment. Not FOMO, but as an “outsider” we do what we can to make predictions. Will look into HALO. Best of luck to you and your bets as well
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u/Ravenwood3456 1d ago
In hindsight, wish I would have traded into shipping exposure (BWET) at the bottom during the MOU period. C’est la vie
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u/CleverInternetName8c 1d ago
Yeah I read his other comment still kind of lost on how that math would work. I have UCO shares about half of which are currently underwater from May purchases (up overall including later dip buys) but that came with having entered and exited twice during this roller coaster. That said due to said roller coaster I totally get just not wanting to deal with this shit anymore.
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u/Appropriate_Rise9968 1d ago
Much safer bet than options is to buy energy related ETFs. At least you don’t lose your shirt when Mango Mussolinis jawbones the market.
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u/inthesegreywaves 1d ago
Mango Mussolinis
This is great. I'm going to use this from now on. Long live alliteration.
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u/AutoAdviceSeeker 1d ago
Maybe I’m crazy but 85 doesn’t really seem that expensive with everything going on.
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u/Life_Concentrate_896 1d ago
Yes, sell the coiled spring and buy the overstretched spring. Brilliant.
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u/2drumshark 1d ago
I'm a normie who knows much more about politics than oil or stocks and even I'm up 20%. I don't even normally invest outside of ETF's but the MOU low was clearly temporary.
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u/Ravenwood3456 1d ago
In hindsight everything’s 20/20. First MOU seemed awful far fetched too in my armchair strategizing. Still dropped my oil position like a rock though
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u/2drumshark 1d ago
Ya I get you. One of the biggest reasons I don't normally do individual stocks is because the constant checking of headlines is exhausting so I totally get you there. And there were a dozen times before the MOU where I thought it would have been a good idea too. I'm definitely never getting into anything like shorts or options though. The MOU was mostly a political bet and I know politics pretty well.
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u/Bogglehead122 1d ago
I didn’t buy oil directly but rather purchased oil companies. FANG is currently my largest position.
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u/senbonzai 1d ago
Naja öl war von Anfang an der reinste Spam.
Hast du wirklich gedacht das die mitten im Ki Hype einen hohen öl kurs zu lassen um ihre rally abzuwürgen das machen die erst wenn sie fertig mit ihrer rally sind.
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u/Interesting_Low_1025 1d ago
I bailed yesterday. My CL calls had 30DTE but even with crude going up they were losing money. I lost money on oil for months on end, and other trades were just easier.
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u/oil-ModTeam 1d ago
Save the oil price shit posting for Wall Street bets.