 All right. Well, let's jump over. All right, so we'll close this out oil some volatility here Yeah, well those numbers come out last night. You can see it was a one-way route. Where I was not a buck for sure I mean, that's so there's your 430 time last night. We're trained about 53 50 call it Yeah, and you tank to about 52 80 on that number and we've kind of hung out a little bit of oscillation But now we're kind of just under that number 52 66 and we're looking at the price of July crude I'm gonna jump in here. I'm gonna jump into those commodity spreads jump into crude and Let's see where these line up. We'll start the 11's Contracts trading of 52 65 not bad. We're gonna have 52 75 that we can gain some exposure There's gonna be a bullish trade slightly out of the money, right about 10 12 pennies. So it's all gonna be premium 15 bucks Same buck 50 to the downside you be selling this one this time you have 12 cents of intrinsic value So that's gonna be 12 pennies plus a similar 15 of premium. So you're looking at 43 call it 45 cents with some commissions Call it 50 cents for even math if you want a little profit didn't you can get that kind of movement today Oh sure, right and especially keeping in mind. So you got 15 cents start to that to the downside, okay? So your profit becomes 52 25 to the downside or 53 25 to the upside and you can see how a little bit bearish there but exposure for buck 50 almost in both directions Let's see where the noons line up. All right same exact price point. That's always nice. There's your bullish trade You train at 52 60 This is cost Do that, right? Just close this to make sure 52 75. Yep. These are identical top ones till 11. We're taking a 58 and yeah, that's a lot more premium, right? Isn't it a lot less? No, it's a lot more as in not pennies 15. So this is moving around a bit We're now at 52 61. That's 52 97 52 89. Yeah, and you can see the market ticking. All right Three pennies not bad for a bit off of there, but the bullish so we'll close out the 11's bullish noon Costs you 21 that one being out of the money, of course open back up the noons you look at your bearish trade This is gonna be the expensive one with some value 36 57 well We're going from 45 to 57. Yeah, almost appropriate, right? Not not bad, but so the market This is pretty cool folks So that market is pricing in that yeah, it's gonna come up But then they don't know there's gonna be movement here I just have to put we're 15 cents away from the the perfect spot and that's adding to the cost of these You know when we pull them up usually the ideal right is that the contracts trading at 52 75 Trained 15 pennies away, right? So that's talking about the difference of just the 11th to 12 That's a big that's a lot bigger spread than we normally used to shoot meaning 13 pennies. Yeah. Yeah Sometimes I might be close. It is like 10 pennies. Maybe no Yeah That seems to me a lot for an hour sometimes so what ends up happening is that this is where? Inside of the option market folks, okay that We'll see how close they get do you know what I'm saying? Yeah as to you know I mean a movement we get I only look at is in there adding about five pennies to each side for an hour Right, so that's not two or they're at least gonna be adding like three or four pennies to you know So I'm just really that it's it's it's pretty appropriate, but again a little pricey because you're paying for 15 cents Which is you know so the 11s were 45 bucks The the noons are 55 60 right where wherever we're at and of that though 15 of that is Intrinsic value, which you kind of don't want to be paying for right That's a big percentage of the money you're putting up and you can see how big of a difference is when they line up so perfectly Which is nice sometimes But we'll see 1024 right and we just jumped in there. So the market in terms of what they're looking for they have the crude oil and Somewhere between usually what happens is the survey number is an early number I think that number might start to get calculated prior to the number last night for the API Yeah, and then when the API comes out people start Clueing into that hint and so you're looking for probably closer to even right now to a decline of about 300,000 barrels Isn't that wild and and so where it's happened. I believe last night. We had a good-sized build So okay, this here is saying that we have a decline I just put in what we just put in a 2 billion a 2 million build right 2 million builds. Yeah, so let's see if I Whoops, let's see if the top live comes up as Here we go, maybe they give us a hint to with that API sometimes last night Yes, 3 million barrel build there you go crude bit of pressure from API data. So 3 million barrel build Brush and could worsen if the AI data shows that the survey is overly optimistic and the gasoline and distillate surveys There's also optimism that at risk of a letdown similar to last week when surprise gasoline build helped drag WTI down to the low 50s right and the gasoline build on the last night was big too, you know, which you know So let's see they got a was huge Is the And heating fuel and it was it was the biggest one out there since about a year always interesting how the fundamental factors come into this Of course, we're talking about a commodity man. You got to refine it. You got to move it around the country We're in summer season you got storms going on So they got the effects of the Midwest and Great Plains flooding are likely to finally hit cushioning this week after a key Outbound pipeline was forced to shut down while a number of refiners cut runs So there are there might be a glut right stuck there that they can't get it out They can't refine it that will likely put more pressure on prompt prices and the spread even as summer demand means or findaries ramp up their facilities Finaries have been running below normal for this time of year We keep seeing that as we do these on Wednesday and at the lowest since 2016 that could be barriers for crude draws but could also point to a gasoline draw depending on what happens with the imports See what happens stare at their folks Tommy and I coming right back We have the Dow 120 Nasdaq is flat S&P's are up four and a half golds at 9 30 Silver's up at 13 cents and you get the king dollar down at 89 ticks coming. I come right back folks. They're right there Welcome back folks check this number out. We got some oil on our hands. We got big oil man 6.77 million barrels watch out man You got gas inventories up 3.21. We're gonna jump back to the chart I think we're gonna see a decrease in the price of crude. That's what you would think and boom There you go, man. Whoa, that is a decrease you're talking about we just dropped almost a dollar. Yeah, my goodness Yeah, 51 handle and the price of crude 7 million barrel build pretty remarkable gas Gas with the build as well. And of course as they say look at that gasoline Yeah, just the build. Yeah. Yeah, it's 3.2 and we're in driving season Yep, you know bottom line is that energy is out there and yeah, you're gonna remember 44 bucks That's my take we're going to December 3rd that you know 26 level here. So this move is gonna help in that journey Yeah, no doubt man. So these contracts we were looking at just keep in mind. You really your max profit there. Where we're looking 52 75 right now It's interesting is this actually clawed right back up to that if we were following it in the final three minutes We could have gotten Equal exposure we got the move in the direction you wanted anyway, but you can see that 1025 bar just crept from 52 60 which is where we were looking at it. Yeah to 52 75 And that was so like this would be your bearish and if you want to close that out What are we looking at 80 bucks? This is the 11 that one was costing us 43 yes 43 plus I would have been commissions So you can see I might let that one ride out a little bit with with that type of a build The market's not happy with that surprise built surprise. Yeah And we wonder what this oh is this in the total stock So when they break down everything maybe in terms of you know, you got gas you got crude You're talking about 22 million barrels probably of some type of crude or crude derivative That's some real action. It is it is I'm waiting for when they give us the full breakdown But we'll jump back and we'll check in on that Welcome back folks Dow Dow's up 63 Nasdaq's down 22 S&P's the flat and oil We got the little smack down there watch out for falling prices Yeah used to be a Walmart slogan man falling prices and oil 51 30 We were trading at 52 75 bright to that number. Yeah, interesting thing here is kind of taking a look So these were buck 50 spreads. Yeah, we're right to the penny right now at your max profit All right, so here's your 11 a.m. This expires in five minutes if you want to close out that trade You could close it out buy it back at 51 33 you lock in 142 of the 150 possible It's good number value you can get if you feel like just letting it play out for five minutes keeping in mind that right now It's fading at 51 25 you're gonna get closed out at wherever that trades right and what they do I believe is they take the last five or ten prints. They average it that way No, you can just pop the last print before the minute Now looking at the noon a little bit more interesting in terms of what if you have this at noon? All right We're right near the bottom. Yeah 51 25s your max profit you're trading 51 30 you can buy it back and you're paying this time about the 20 cents a premium, right? But you're locking in 123 of a possible 150 and You were putting up about $50 55 55 for that for that trade again You could figure it out whether you want to but that's a long time an hour to let that sit if you want it Totally right and on the Bloomberg folks. This was pretty cool. So we got with it with a champs and We asked a 3 million dollar barrel building gas. Yeah, the build was 3.2. So we nailed it