 All right Wednesday. Oh, yeah oil. You got it, man. So Jumping around there's our crude oil contract. I'm just gonna close out these for some clarity So we're looking at the April contract quite a run up from yesterday, right? I didn't see the API There's your volatility though. I can't see the drawer of I think six million barrels I think okay, so I can just you know, I automatically 430 you can usually find the spot in the chart just by sticking out and So let's just jump in we'll see what kind of contracts we got going on. We're gonna jump to the crude oil Let's see first with the 11 a.m. Line up. So again, we're training 57 82 What might be a nice price point if you wanted volatility from one way or the other? You didn't want to pay too much intrinsic value kind of like we're talking about with Kevin, right? Yeah, you want the most leverage you can get And really if you pay a lot of intrinsic value you got to pay a lot for that, right? That's versus just paying a very little premium where it's kind of like an at-the-money option Yes, that you're looking for right? You don't want a deep in the money option because then you got to pay for all that intrinsic value You don't necessarily want to deep out of the money option because then you're just paying a lot of premium for a real outlier event Yeah, it's kind of nice when they line up right kind of at the money So 57 81 ideally maybe we'll be looking for 57 75 58 wouldn't be in the world if you had a little bearish bias, but the 11 a.m. Is not really gonna give us a great option You got either 57 50 you can have exposure for you got 58 25. Alright, so let's jump around. We'll jump to now What's good is I already know that the the price Points are gonna be different and I know that because this has been moving one way and that's positive So these are gonna get readjusted every single time they open so jump into the noons See before I even look at them. I knew they're gonna be different, right? I didn't know they're gonna line up But right I knew they're gonna be different because the price is moving throughout the day as they're getting set So here would be your bullish spread you got a buck 50 to the upside in this contract You can have about five pennies of intrinsic value So that's costing you about twenty nine dollars Contracts train at 57 80 You have five pennies of intrinsic and the rest being basically premium and then on the bearish side This is gonna be slightly out of the money. It's gonna be a little bit cheaper You're gonna 22 so you're looking at $50 or 50 cents away from that 57 75 and that's till the noon So not bad and we've had some volatility on oil, right? That seems a little bit pricey and it might just be because of these moves were up at 58 dollars now But let's see how some of the two thirties line up. Okay, so Excuse me. The main daily is gonna give us 57 50 And the $5 spreads are gonna give us basically 57 Now again, you know, we always look at the volatility because it's nice You don't have to pick a side you don't even have to decide whether it's going up or down You just decide is this price worth paying with the EIA numbers coming in six minutes, right? Rest of the volatility And most of the time it seems pretty affordable today though. It's a little pricey. It is That's where you want to use to use it It's the big move, but we're already moved a lot We have and you have to keep in mind that if you only close out one side of this trade your max profit It's a buck 50, right? So you're putting up 50 cents. Yeah, and Unless you plan on what we talk about you can close out one You know side of it you get a spike you look for a pullback or something in one way But realistically you just get a one-shot move in one direction, right? You're risking 50 to make a buck 50 and then you're capped So that's where you know when you start getting into 50 60 cents That's not a lot if you have unlimited potential like an option. This isn't like an uncapped option You're you're capped at a buck 50. So just keep it in mind Yeah, so sitting about 57 and look just as now we're only a penny away. Let's just see out of curiosity if that changes at all There's our bullish. There's our bearish Little bit cheaper 47 as that just ticked right back and now we're kind of like right under that contract So there you're paying basically no intrinsic value and we'll see what those numbers shake out man We get those numbers in about five minutes and let me just bring this up for a second Let me just see with this contract. So right now Okay, so we're up 1.7 percent dollar even yeah And I think there's just a little bit delay. That's all which is why it's saying 57 86 live contract trading about 57 75 This is gonna be interesting folks. We're at the top of the range. Yeah So this is this is just even not not even the volatility out here today for this trade Yeah, but that 57 81 you break topside and yet you get action. So that's gonna be a big day I mean, we haven't been above this level going back to the beginning of november, right? And it's march. That's a good five months that we've been sitting under there let alone how far we actually made it I mean you're looking at a low of 43 dollars on the dot and we're now approaching 60 Yeah, and that was on Good old christmas eve when everything was rocking and rolling Yeah, the other companies didn't get any uh presence from santa claus. Nobody got any presence except for the shorts Maybe um, right. Yeah I was gonna go to top live and just see some because they usually have the oil up here, right? There's your stats. They might have some tidbits. I was looking for maybe the api. He said maybe there's a draw Let's see api 2.58 was the api for a draw last night Um, and even let's get in we go into the whisper number sometimes right and let's see what maybe the expectation Uh Oh, there it is so it's closed because I think they close it within like about five minutes So they're looking for whisper number about two million barrel decline And that usually varies a little bit estimate differently from the median analyst But you can see even down here, right? They have the estimates 2.4 2.5. We're looking for a decline somewhere around that api Stay right there folks. Tell me I come right back iPhone number is 877 92766 for 8 That was up 118 nazics a party sbs up 14 and a half come right back Welcome back folks. We have the down dishes up 120 nazics a party sbs up 15 And we saw right I pulled up it ticked off. So we had a decline of about 3.8 I think I saw there we go crude oil inventories falling 3.86 million barrels a little bit more We might get a little price pop on that you got gasoline gasoline inventories falling 4.62 And there was you know the expectation. Oh boy. Look at this The expectation was an increase of 2.5 on bloomberg. Oh boy. Okay. That's quite a variation And there's your pop So we're chaining 57 75 You got basically a 25 27 cent pop right off the bat those contracts We were looking at down here. This would be your bullish spread This one's going to have a majority of the value right now I say the majority because even though this contract being bearish is dramatically out of the money You can see that even it's still you could close it out for $10 and take your money off Right or something because you have 90 minutes of going in bullish contract though Nonetheless, that's who you get $30 of equity right now in the bullish You got about 10 in the bearish you can see that, you know, you've only put up 47 You need more movement than this But nonetheless, I mean, this is where it's a cool trade because You could if you didn't get what you wanted right away even you could say listen, I'm just gonna I'm just gonna Close this out. Yeah, I'm gonna take my $30 a year. You know, I'm gonna take My 8 to 10 here and in your back at 3840, you know, it's not the end of the world No, it's not you just might have wanted more of a react Now the other side is you say hey, guess what this should have gotten more of a pop here I'm gonna this is where I talk about both sides, right? Yeah, I'm gonna close out my bullish spread take my 31 I cut my wrist down to only about 17 18 dollars And then your bearish spread remains active and anything under 57 75 becomes profit And you're only risking about 18 dollars For that contract and to be to get into this contract right now would cost you 14 So it's it's similar but you know as in you're just kind of taking off one side If you if you didn't get the move you wanted point being you can trade it throughout the entire time But let's just check back because I wanted to see yeah So there it is quite a miss, you know, they meet meeting estimate was a rise of three Bloomberg survey was a rise about 2.5. We end up getting a draw of almost 4 million barrels Pad 3 crude a decline of 5.3. Maybe that's one of the biggest shakers in there in terms of driving that negative 3.8 gasoline Minus 4.6 estimate had to bend a decline of about 3 million barrels Distalates off as well a rise of 383,000 versus an estimate a decline of 2 million Refine or utilization not quite where they thought estimate was going to be 0.5 only 0.1 Crude in points 30,000 crude inputs 30,000 barrels a day Yeah And one more check before we jump away because sometimes well, you know It's so interesting what you have here two folks is that you're busting into the top of this consolidation So if this thing does bust open sure it could be a really a wild day Yeah, you know, you know, when you when you're up at the top of the this has been a long consolidation So, you know, we'll see if things are going to break topside. Uh You get some yeah, see this yeah, and 5781 and the highs up there They That's 55 17. Yeah We go to the right-hand side. Yeah, sure Even yep even further these yeah, 5781 right where we are. We're right out and how about this guy 5788 Yeah, we're right at it. This is gonna be So we did get to 5792 already and it looks like so we are above 5788. Yeah 5781 and uh I'm just looking at some of what like the high of this 60 11 And what's the high of this guy over here? Come on 5870 All in the general range, you know what I mean in terms of like The the pennies might mean don't matter as much as seeing exactly how it just kind of handles this level in general Exactly. Yeah, right. Yeah, because this was the battle. That's the battle line The battle line is set up pretty nice because you can see right when you get above that You're just dealing with from this point to this point. Oh, exactly and that the high is 76 I think above it. It's clear sailing. Yeah, right. Yeah, and uh, now this will still be delayed, but it's interday Excuse me. Yeah, it's gonna be interesting. Most will sell the shakes out because you got a decent spike, but just looking at that Right now it doesn't look to me like that thing is gonna hold so hold higher. You're talking about Yeah, I'm just gonna check back even again. Yeah, so just hanging at that 58 Um, we're now five minutes past that news. Oh 5805 5806. We'll see what happens