 It's Wednesday, man. We get those oil inventory numbers at 10.30. There's your crude contract. We're looking at the July crude. So quite an acceleration, right? 51.49 that low of yesterday. We get a little pop, we're trading at 52.13. So we get the numbers at 10.30. Excuse me, it's about 10.21. We're gonna jump in here. We jumped around during the break. We were looking for volatility trades with exposure, bullish and bearish. One of the nice ones that lined up. Now, this has ticked a little bit positive, but they have a 52. We jumped into the dailies. So these have exposure until 2.30. They're $3 spreads. So we're gonna have bullish exposure from 52 to 55. Bearish from 52 to 49. Excuse me. And here's our bullish trade. This is the one that's gonna have 12 cents of intrinsic value. That's gonna cost us 47. So you're paying 12 bucks basically for value. You're paying 35 for premium. On the flip side, it's gonna be the exact same usually. There's your 35 for premium. No intrinsic value. So boy, you're looking at 77 bucks. Big dollars. Representing 77 cents. Add a few bucks on in commissions. You're looking at 80 cents, give or take, that you need to be away from 52 to reach a break even. My goodness. You need some big action. And the market, you know, you've gotten a lot of volatility with Crewman. Oh, you have. It's priced in some premium. You got till 2.30. You have $3. And in this stance, I think they're assigning some of that premium to the fact that you might get almost $3 of movement. Yes, no, no. Sometimes some days it's really not impossible, but would be very rare with the types of moves you're getting. The market is not just assigning premium for the time, which is usually what happens here, right? But I believe with this type of price, there's a lot of premium. Some of that premium is the fact that there's the implied volatility. There's a realistic estimation that it might go to 250, something like that. Yeah, you can see that. Can we just pull this up for a second? CLN, CLN 9. So when you look at this, now my take, folks, is that we want to get down to this 44. That being said, this is not a lot of volume today in the oil market as you're getting to lower price. Last low out there had 943 or 332. Let me just see this intraday. And I believe that was a week ago. So that was probably on the EIA. I look at this. You get a nice pop up here, 52.25. Then you get this other one down here. This is, you know, I mean, we had a big build last night and, you know, I put a big build in with it. We put a big bit in a whisper. Like a 5.6 or a 5.6 million, which is not a liar. I think the estimate's like an increase of a million or something like that. 400 something. Yeah, it's not right. But, you know, looking at this, I'm bearish, but I think you're going to get a little pop here. I think this is still building costs for lower price. Well, if you're paying those types of premiums, you better be looking for a big pop, right? Oh, yeah. No, I'm with you. No, I'm with you. No, totally. I think we're still going to be in that building cost. We've only been here five days. And because we come down from 66, it's going to take more building costs in order to get to that lower price. I think we're going to mess around a little here. So we'll see when this shakes out, man. So let's just see how some of these, I think they had 52.25. So we just set it up with 52 being the price, the pivot point, right? We had a little bit of value on the bullish side. I think if we jump in here, there we go. So the noons, we're going to have 52.25. Now we've ticked up. We're about the same, almost 12, 13, 14 pennies away from this one, but on the bearish side, you have value, right? So this is going to be our bearish spread. You're going to have 10.15 cents of intrinsic value. So you're going to 33. There's your bullish, all premium, 19. He's talking about $52. Now, the difference being though, you have a 15 cent head start to the downside. So you've got to make 52 bucks, all 50 cents, right? Plus a few, but you have 15 cents. So if you're a little bit bearish maybe, not the end of the world, but again, 52 cents, even if you get a move to the bearish side where you have your head start, you still need 35 cents. And if you get the pop bullish, you need to go all the way to 52.75, almost talking about 65 cents before you break even and keeping in mind that you're capped out at 53.75. So you need 65 cents a movement to start making money and then you're capped out like a buck later if you really get the bomb. So we'll see, 10.26 right now. We get the numbers in four minutes, man. Rock and roll. Let's go take a look at the XLE. So the XLE out here, that's lower, 2.8 million shares. Well, that's going to be decent volume out here. Well, except it's going into, it's going up to 32 million. The high there is 61.22. We'll take a look at this. These things have underperformed any, oh, yeah, these, not XLE's still in trouble. We'll see. Oil pulled back pretty hard last night. It did. So it's from the close last night to the open this morning. It said, whoa, lower prices. Stay right there, folks. Tommy and I are coming right back. We have the Dow Industries down 36. NASDAQ off 38, S&P's off seven. And the NQs folks are pressing low and they have volume. So you're going to watch that NQ. Down 42, this looks like it wants to break out as low right now. Tommy and I are coming right back. Welcome back, folks. Our Dow, Dow's down 40, NASDAQ off 38, S&P's off seven and a half, and oil. Let's take a look at these oil numbers out here. So headline number, crude oil inventories rising, 2.21 million barrels. Gas inventories rising, 764,000 barrels. Jumping back to the charts, seeing how we're hitting the market right now. You have oil trading 52.18, a little bit of a pop on that, but it pulled back pretty quickly, man. We're trading at 52.12 about, coming into that number. You spike up to 52.32, and right back to where we were right now. So we'll see how it... They got a lot of premium in there for not much movement at this particular point. And I guess as they break this down, we'll get the full breakdown within about a minute or two usually, but I guess the entire build in cushing. So I wonder where the expected breakdowns were of the cushing versus pad three, right? There we go, okay. So median estimate was a decline of a million barrels. We came in at a surplus of 2.2. Gas pretty close, 764 versus a 900 build expected. Distalates, kind of a reversal of a 1.1 decline, excuse me, a million decline. Estimate was an increase of 1.1. And there's cushing, about two million barrels. You actually had a decrease in pad three crude. And look at the refinery utilization. They're ramping it back up, right? So plus 1.4, estimate was plus 0.6. And crude input, it's minus $316,000 a day. And production down as well. So... That's per day, huh? 360,000 per day, right? Yes, yes, yes. That's a lot. That is definitely a lot. Oh, oh, give it a few seconds, man, look at that. So we're trading at 51.86, quite a little thrust, especially when the first head fake up to 52.30, we're now 50 cents off and cheaper prices, man. We're gonna be going for that low head at 5 a.m. of about 51.49. And it's not stopping, man. No, it's not. Not stopping. That's where some defined risk would be nice. So I don't know how you navigate. We're now talking about a 60 cent bar on the span of about 30 seconds. Right. Let's check back to oil. Where are we gonna be? Yeah. Oh, we're right back at 52. Right where we started, man. Look at that. That's gotta be frustrating if you've made that volatility trade. And this is where, you know, quick fingers can never hurt, man, in terms of yet an opportunity here, maybe to close out that bearish trade. If you thought it was gonna be bullish, I'm not saying I would have even, you know, but just something to consider when you get a move that goes from 52.30 down to 51.64. I'd be timed a little, you know, if you don't think that move's gonna be continuing, you always wanna be revaluating that trade because we've seen it many times. The first move's not always a move that hangs. Oh yeah. And before we're done, we might be at $53 oil the way this moves sometimes. You get a lot of moving pieces out here. And they're two ways above. Seems like they might have priced that volatility correctly coming in. I know. If you're getting 60 cents one way, 50 cents the other, and it's only eight minutes after the news, and they were pricing that till 230. Yeah. Stay right there, folks. Tommy and I are coming right back. We'll go with that man, come up with that man, Teddy Kegstad. Dow, right now. Dow is down 22. Nasdaq's off 36. S&P's off 5.5. Gold's up 6.70. Silver's up 4 cents. Kingdoll's up 26. Come right back. And speaking of the tide of oil, a little bit of volatility, man. It can't quite figure out where it wants to go. I know. We spiked down to 51.64. We're back up to 52.30. Boom, we're back down to 51.82. We'll find out the day is young. We'll see where that crew contracts goes. No doubt. Yes.