 So it's Wednesday 10 22. We get those numbers in about eight minutes. There's our crude oil chart We're trading at 64 33 to jump around here to see what kind of action we have we'll start off with the 11 a.m. So the 11 a.m. 7 64 25 as a price point where you can get an exposure upward down one not bad, right? Yeah, you're only eight pennies away the bullish spread would be the one that has some intrinsic value because your eight pennies above You're looking at about 20 bucks on the bullish side your bearish spreads gonna be the same thing minus the intrinsic value, right? So about 11 12 dollars 11 bucks 31 so 31 3 31 cents Yeah, away from 64 25 and those are 11 a.m. So you're only gonna have a half hour after we get that news jump in to see where the the noons line up Okay, exact same prayer. No wait. I had 64 25 right 63 All right, so 64 50. Yeah different level. I thought it's 65 25 64 25 was what we're using now This is a great example with okay. We just do the 11 a.m. The 11 a.m. Has exposure from 64 25 You'd have a little bit of a bullish head start. What if you said, you know what? We're like this 65 level I'd rather have like a little bit of a bearish head start. Maybe it won't get above this 65 level well There you go. Now you have 64 50 where instead of having on the other side now yet positive You get 18 negative exactly So this is gonna be your bullish spread which is completely out of the money now the cheap one So about 12 bucks and on the bearish spread that one's gonna be the intrinsic value $40 instead of 31, but again this one is in 50, right? Yes. Yeah, so 40 cents away from 64 50 becomes your break even Let's see how the dailies Okay, well, it's nice and that the 230s these line up the exact same way 64 50 That would be the bullish spread And I always like to see so you can see the market not that big of a difference, right? Number one this one's still noon this one's till 230 and you also have exposure to 67 50 and you're only paying look at that two ticks three ticks, right? Difference not bad for that extra hour. So there's your bullish one Gonna be about 15 close this out your bearish one Gonna be about 30 So 45 so went 30 bucks basically at 11 right 40 at noon and 45 at 230 Let's take a look at this so Seems like in recent weeks just as you pull it up We've gotten huge misses where you could have seen the price plummet right now We had a build of 7 million barrels maybe last week I don't even think the estimate was that much of an increase if not a decline Yeah, and and we still go higher. Yeah, so I got here this morning That's the that's the first down what interesting man, okay, so that's down to yep. Well, guess what you know, what are we doing? I think it's gonna go south man south, you know, it's interesting here Yeah, this is wicked folks because they went when you take a look at this and you know It's pushed higher with volumes you can see because he this volume right behind it, you know That's the good volume in those last few days, right now that being said now watch this when I break this down Intraday and you're gonna see that your two cells, you know really down, you know, that's that's what I'm looking at Sure, you know sell down yesterday at 940 yet another one with volume and then this little one right here, you know So it's like okay. Yeah, that looks to me like that's where I would like to go first So that's gonna be intriguing too because what we what we do have here is that the oil market has been going right along with the S&P. I mean, you know, we look at that. They're both They're both up at highs right now, you know, they're moving together. We're complaining about the price of gasoline Yeah, and just bring it up if you just want to go bearish, right? I mean, there's still great trades, man We always look at both sides, but here's one you get the market trading at 64 37 Yeah, you're selling at 15 pennies below the market. All right That's the sacrifice you make but your losses are kept at 64 50 and you're putting up 20 bucks And you have exposure all the way down to 61 50 not bad with those numbers coming and that's until 230. Yeah Yeah So yeah folks Tommy and I coming right back at phone numbers eight seven seven nine two seven six six four eight We have the Dow industry was trading down 12 down 33 rather than Aztec is up 19 S&P's are up to come right Welcome back folks. So crude crude inventories rose seven point zero three million barrels That's right. So we had at least the Bloomberg user survey looking for a gain of three point two definitely above that level jumping back to the chart The initial thrust you would ink negative action, but still just like we're talking about right seems like every week Yeah, there's been more of a bill than they think that should cause prices to pull back You know why and basically a non-reaction in terms of sitting at 64 31 We were sitting at 64 31 right as we were coming into this number, right? See what happens they're gonna come up with a lot of numbers gas inventories falling 7.71 so they were talking about this as well I'm gonna scroll down a bit right because I was mentioning that and part of the they give you kind of a what to watch for here Crude unit outages at refineries. That's the head of the number, right? Just talking about our still trending high last week We saw 1.5 million barrels a day offline talking about refineries. That's a bullish signal for gasoline and That number kind of reed reiterating that right you have a huge Inventory fall of 7.71 for that gas market crude oil crude oil inventories rising 7.03 Yeah, we'll put that back up and let's just check back to the price one more time. Oh It's gotta be tough if you're a short there and that's why it's nice even some of those trades, right? You lost the cap to 6450 right huge man not bad. Yeah, because the finder is crazy when you know You can you can be trading an inventory number the estimate on Bloomberg's three million barrels We'll pull up the median analyst estimate as it pops up there And nonetheless seven million barrel build right and the market's like we're trading higher man All right, and it's one of the targets in there. You know what we use gasoline. We don't use crude Gasoline uses crude to be fair, but that's all yeah, but it's still a crack Inside that barrel then yes, oh for sure plastic market. There's a lot of different markets We're fine rate the refineries are offline man. No no gas is getting made from that crude Welcome back folks so we get a little action in this oil market. We sure do man These are five-minute bars. We're looking at just making sure they show our so 10 40 a.m. 10 minutes to digest that news Right, we trade from 6440 down to 6406 now sitting at 6410 See what happens we get a lot of time left in the day Not even 11 a.m. Yet, and it looks like that inventory as in quite a build seven million plus barrels Maybe wait on that price a bit for the first time in a while And we were looking at the 6425 and 6450 correct Yeah, the 6450s were the ones we looked out more often as a bearish one Yeah, and the 11 a.m. So the ones that had your 6425 is your price point right the noons in the 230s We're gonna have 6450 as your price point See what happens