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Started By
Message
1
Posted on 4/20/20 at 2:37 pm to bhtigerfan
quote:
Buy a 1,000 bbl tank for $9,500.
They pay you $35k at current price to take delivery.
Store oil and sell when price rebounds.
Better yet, buy a barely producing well for $60k, take delivery of as much oil as you can and just pour it back into the ground...
This post was edited on 4/20/20 at 2:39 pm
Posted on 4/20/20 at 2:50 pm to bhtigerfan
quote:
Buy a 1,000 bbl tank for $9,500.
They pay you $35k at current price to take delivery.
Store oil and sell when price rebounds.
Oil tanks
How does one get the oil in the tank?
Posted on 4/20/20 at 3:02 pm to I Love Bama
quote:
I think those lose value over time, don't they?
This one 1.5% per year. You start with 100 shares at the beginning of the year you end up with 98.5.
But if you buy 1000 shares for 160 dollars and sell in three to five years for $40 bucks as share you made a nice little profit. If you believe oil will rebound, which I believe it will.
quote:
Like options?
No. You are not buying a contract that expires.
Posted on 4/20/20 at 3:03 pm to I Love Bama
quote:
It's UWT like an option play?
No. It's an ETF with a high 1.5% management fee.
Posted on 4/20/20 at 3:07 pm to TigerDeBaiter
Stolen from twitter
Posted on 4/20/20 at 3:10 pm to I Love Bama
Posted on 4/20/20 at 3:13 pm to GumboPot
Anybody have advice on investing here or should regular idiots like me just hold onto cash?
Posted on 4/20/20 at 4:31 pm to Boh
I would stay far away from oil right now lol. Spot price is -37, Jun is $21 (everyone will be off June tomorrow). That's a $50 carry between months, forward months are all at a carry as well
Posted on 4/20/20 at 7:02 pm to Boringaccountant
(no message)
This post was edited on 12/3/23 at 12:40 pm
Posted on 4/20/20 at 8:06 pm to GumboPot
where can you buy UWT? I dont see it on TD Ameritrade
Posted on 4/21/20 at 5:24 am to tigersint
UWT seems risky as frick.
Before price was this low, some guy I work with was talking it up. Looked in to ETN's and stayed away.
I think the problem with these is that poeple buy and hold them when that is not how you want to treat them. They see ETF and think hold onto it for a bit. From what I have read, that is the opposite of what anyone would what to do.
Someone feel free to correct me.
Before price was this low, some guy I work with was talking it up. Looked in to ETN's and stayed away.
I think the problem with these is that poeple buy and hold them when that is not how you want to treat them. They see ETF and think hold onto it for a bit. From what I have read, that is the opposite of what anyone would what to do.
Someone feel free to correct me.
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