 And it is 10 22 right now. We're going to jump into commodities. We're going to look at crude oil Talk about a market with some volatility recently. We're going to see $60 oil man 160 dollar oil. We've been closed. I almost hit it yesterday. It did back it up again. Now you were here No, it's Tuesday. We were up to 58 75. I mean talk about within almost a dollar and a dollar in oil We then we go from 10 45 yesterday morning about 24 hours ago And you drop more than a buck 50 by the time 230 rolls around. Yeah, and then we're back up to above 58 So you got oil trading 57 65. We're looking at the october contract again. We're coming into those 10 30 eia numbers Let's take a quick look at 11 a.m. What kind of volatility we're going to have priced into these options So we're going to have 57 25 or 58 dollars is our ability at 11 a.m Kind of equidistant away from those we're acting at about 30 to 35 cents away now again If you're just looking directionally, that's where it's actually a nice sweets box You're not paying a ton of premium. Let's just say you're bullish And we've got a lot of movement in that market definitely, you know And this is where you're only eight pennies away from market now seven pennies away from market You buy into 57 73 And you're basically getting a two to one risk reward where your losses are capped to 57 25 You have almost a full dollar to the upside and for that risk reward That's where you just have to make you know decide for yourself You're buying it at 57 75 the real markets at 57 68 You're buying it at seven pennies above the market We're not a bad trade with the earnings about to come though in my opinion And the same thing would set up on the other side, which is not bad, but let's see where we line up on the noons Okay, noons are going to have 57 75. That's a lot closer, right? That's about 78 pennies So there would be your bullish spread Now this is where again the last trade we looked at was only about seven pennies away from the market, right? This is why now the risk reward is going to be A staggering more like five to one six to one but but by doing that you're also paying 30 cents above premium And that's where it really gets tough, right? The last trade much closer to a futures trade You're only paying seven pennies above market exactly for a two to one You want to be risking 20 to make 130? Well, you're going to be paying 30 cents or so forth above the market, right? Because that's how they correlate. So here's your bullish and as we're saying it It's ticking up right to that 57 75, which would be nice Because then would have no intrinsic value on either side would just be paying premium And it's going to be a little pricey as you might expect, right? So we're at 57 72 call it the bullish spread Costs us 23 the bearish spread, which is the one with about four pennies of intrinsic value 27 50 bucks on the dot So you would need 50 cents of movement away from 57 75, which is almost where we're at right now In either direction. That's the key part, right? You get 50 cents a moment in either direction You break even a 50 cents, you know, it's a little movement For both sides. It's and as we make by noon too by noon And there's before I just wanted to see the 230s as if they line up at all So 58 would be our only option Um for the dailies, which is about 30 cents or more and so we're dealing with October Oh, so this is interesting. Look at this. I mean you got up there with volume yesterday, you know 700 67 We shot up there and then like I said by 230 you were back down to 57 and change. Yeah, so You know most times what tends to happen here is that Oh, but look at them then hell. Yeah, another one bites the dust. That's well, you know what that was, right? Yeah, that's what's when bolton bit the dust exactly. Yeah, so what i'm talking about folks is wait when it just goes The dust there you what you had is that you had oil shot down from a 58 41 down to 57 30 a buck 10 in no time And volume down there. Yeah, and then it was interesting though by the end of the day Look at that. Oh, I know already. Yeah, the market said, you know what man Bolton wasn't probably the one that we should be afraid of in terms of foreign policy If that's really what you're worried about in terms of Yeah, you know the president he decides a lot as any president does but right so Yeah, so you know what I'd go that the others can get tested again. It didn't get tested. It came down there in the middle of uh No, no, that's 240 came down to 240. Yeah, I'd still go that we're gonna gotta go a little long We'll see what this shakes out. Okay. We get those numbers 8 7 7 9 2 7 6 6 4 8 We have the adult industrials right now of 34 and as like up 43 s of peas up eight staring death folks Tommy and I come right back Welcome back folks uh 6.91 drawdown and the uh crude gasoline 682 000 barrels And they were looking for uh, well bloomberg is we're looking for 5.15 But yesterday that api that number was big, right? Well, that was yeah seven plus million So we get the eia numbers 10 30 a m eastern time on wednesday's crude oil inventory is falling 6.91 million barrels To see how that hits the market jumping back to the charts and as you would expect Little pop. We were trading at 57 75 coming into that number, right? We're up about 13 pennies But look at that volatility. We actually spiked to 57 42. It's a five minute bar there And uh looking at both of these contracts your value would be on the bullish side, of course now And that's where you can see you're actually only 25. You need more movement, right? We're looking for 50 cents for break even on both sides So you're talking about 57 75 if you were trading this you needed up to 58 25 But that number man declined falling 6.91 million barrels And like you said gas inventory is falling as well 682 000 and the bloomberg user survey They were looking for a stockpile decline of just 5.15 But if you back things up the world um survey number was only a decline of about 3 million and uh Scrolling through this quickly to get to that api as you talked about 7.23 falling last night for the api So maybe maybe we're using some oil man after that summer break Yeah, they're not pumping enough of it. That's right. One or the other. Yeah, one or the other. Exactly. Yeah Welcome back folks. Uh dow dow's not up 31. That's except 43. S&P's up eight and a half. Let's look at that oil contract Yeah, we go to election jumping over and man you wait on this a shocker. Look at that So we were sitting at 57 75 almost when we came into that number. We saw the initial spike We saw a drawdown of more than the market was looking for and man. It doesn't matter oil train lower 57 37 right now in the price of that october crude oil that's That says a lot it sure does that says a lot no two ways about that. We'll see whether that high volume low is going to get hit