 So, let's get in the oil market. Let's do it, man. So, it is Wednesday. We get the crude oil numbers as if we don't have enough going on today. We get crude numbers. 10.30 am, it's 10.21 right now, so we got about eight minutes until we get those inventory numbers. Crude, a little bit of volatility today. You back things up to yesterday. We made it up to a high of 59.50. We talked about how the Saudi Aramco deal, they get a pop on the open, the largest market value of a company. I think it's 1.8 now, it's up $2 trillion. You won't see any of those insiders selling any time soon unless they want to knock on the door from the Saudi police. Yeah. NB1, right? Oh, right. So, we'll get it. Yes, exactly. Crude oil, we're looking at the January contract. We're trading at 59.15 right now. Jump into, let's see where the 11 am's line up for expirations would have exposure from $59 if we didn't want, not a bad price point in terms of about 15 cents in the money to the bullish side. If you want to set up a volatility trade, this would be your bullish spread, 59 to 60.50. And it's kind of cool if you were just bullish, not a bad trade, man. You're paying about eight pennies in premium. The contract's at 59.15, you're buying at 59.23, and you're capped at losses at 59. And you got to keep in mind here that this is with the inventory number dropping at 10.30 with upward exposure all the way to 60.50. The bearish side of that, you're going to be a little bit out of the money. So you're going to be paying a little bit more premium as in you're paying 15 plus the nine cents. So you're paying 24 cents on the bearish side. So, and I say paying 24, right? You're paying nine, but you're 24 cents away from the market. And so you're looking at- And if you bearish, that's not bad. No, that's, it's only costing a nine bucks, right? It is, it is. Now you got 24 pennies before you get to break even, right? But pretty cool how that lines up. So when you look at that chart, it was 24 pennies like six hours ago. Yes, and again, you got the numbers coming at 10.30 right now. Let's just see where the noons line up. So a little bit different price point, which is nice here. So on the 11 a.m. spread, you had a little bit of a bullish bias potentially because you were 15 cents in the money to the bullish side. You can set up a real similar trade on the bearish side though, because 59.25 becomes your pivot point. So this time you would be buying the bullish spread, but this time you're out of the money on the bullish side. So that gets a little bit cheaper, but you got to make up that room in terms you're buying a 59.41. The market's at 59.14. You're paying 16 bucks on that bullish spread trade. And the bearish one is the one that now has your intrinsic value. Not a bad bearish trade, if you really want to. You're selling it at 59, call it. Markets at 59.15, when you're capped out at 59.25. I like those trades, and this one goes till noon too, right? So I like those trades when you're getting an inventory number, you're capped at relatively affordable losses, and you have a buck 50 in terms of potential. Let's just see, so the number we're looking for, crude oil inventories, they're looking for a decline. I'm gonna put it in, because we got 15 seconds. We're gonna add that negative number, 22.50. We're gonna split the difference between the median analyst estimate of a bond, decline of three million barrels, and the whisper number a little bit weaker than that, a decline of 1.5, and before we jump around, interesting draw on crude and gasoline, looking for a surplus of anywhere between about 2.5 million and 3.3 million barrels. Okay, so CL, active contract, let's see what we got here. Yep. So yeah, they're having a hard time with the 60 bucks, but it's still over the, at 58.74 level. Oh, look at this, this doesn't say a thing. And that was the OPEC news that we had on Friday. Yeah, okay. The Saudis cutting even additional, and surprise, surprise, ahead of the initial IPO for Saudi Aramco, but it's held up there. It has held. Yeah. Hey, well, Sarah shakes out. Yeah. It almost looks like it does want to spike up there. I mean, it's been up there for days. It's been hanging for a while. It has. It's been up there for days. And you gotta know there's a trading desk somewhere in Saudi Arabia that's gonna be buying oil if that thing begins to plummet. Oh yeah. At least for the foreseeable future. No doubt. Yeah. Welcome back folks. Dio's down 12, Nasdaq up 22, S&P's up three and a half. And we, we got a rise of what, 822,000? We sure do. So API had a rise last night too that we're talking about in the den and crude oil inventories rising. Expectation had been for a decline. Gas inventory is rising much more than they'd expected. 5.4 million barrels. So with that in mind, let's jump back to the charts, see where we're trading at. And we got quite a drop, man. Look at that. As you'd expect, right? Market was looking for a decrease in stockpiles. You actually get an increase. And this is where you talk about, man. If you're going bullish, you're capped out of $59. One of those trades we were looking at. You know, right away. You don't even have a chance to get out if you're trading this in the futures market as that blips down in a heartbeat to 58.88. And if you looked at the bearish side, not a bad trade. We were getting in at 59.25. That would have been our bearish side of the contract. Already, you would have $46 of value on the bearish one with that acceleration to the downside. So $60, maybe just not yet, man, and the price accrued with a build of 800,000 barrels, yeah? Yeah, it's because you say 58.79. See, that's the number that we just went over for four days. But guess what? It's a number that... And you back it up. I mean, we just, I mean, this level we read out early this morning on two occasions, we're under that now. And you're all the way back to Tuesday action in a heartbeat. Yeah. Lots of energy out here. In fact, yeah, well, let's go to CVX, Chevron. So check this out. This is pretty intense, man. So Chevron is now 70 cents. $11 billion, is that a lot? Yeah, now this is a write down, folks, okay? That Chevron basically said, hey, listen, I don't think our assets are gonna come back to those levels again. Yeah. They expect to write down 11 billion in the fourth quarter, more than half of its Appalachian natural gas assets after the slump of prices. More than half of it from the Appalachian natural gas assets. So I mean, that's, that's pretty, 11 billion. 11 billion. And they talk about the US oil majors considering the sale of shale gas holdings according to the statement the company said separately and intends to exit its stake in the Kitimat liquefied natural gas project in Canada. And Chevron also plans to keep its 2020 capital budget 20 billion in the third consecutive year. It has not boosted spending. So natural gas prices really hitting that. Yes. Their assets and as it should. You know, if you have an asset that's based off a commodity and that commodity price plummets, you better not be valuing that asset on your balance sheet at a price that doesn't make sense because that's a long-term problem, man. And that's really- It's cooking the books. Yeah, I was gonna say it gets into, whether you call it, you know, SEC criminal behavior even at some point when you're, because you get to, you get to borrow against that money, right? You get to leverage against that money and that's where companies really go bad when, and that's why mark to market is so essential on most things because when you have assets on your balance sheet you use it to further leverage yourself. Those valuations are off. That's where you really get into trouble. I mean, that's where that home crisis was in 2008. You had all these assets on people's books that were just hogwash. All right. How about oil? It's down to a dollar on those big, on the surplus. Stay right there, folks. Think it's coming up next. Then I managed to balance the tap and Steve Rhodes Day. Right? We'll be back this afternoon. Thanks, pal. Thanks, man. Real! Look at him, folks.