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WTI Oil Futures

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 James Colburn, Commodity Markets

 Monday, April 2, 2018

If I told you that oil stocks in Cushing, Oklahoma (the delivery point for the CME futures contract) would draw from 46.6 million in early Jan to 31.2 last week, would you expect the front spread to do this (from Barchart.com): Someone did and in early Feb bought 10,000 contracts each of April/May (settled at -.14), May/June and June/July flat puts (calendar spread options)... This trade is in line for my coveted “Option Trade of the Year” award (yes, coveted, revived and brought out of mothballs).... The IEA’s monthly Oil Market Report for March has a good discussion on what happened here: https://www.iea.org/oilmarketreport/omrpublic/currentreport/


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TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS
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