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Message
re: Oil to $2.50
Posted on 4/20/20 at 3:57 pm to tgdk11
Posted on 4/20/20 at 3:57 pm to tgdk11
quote:Unless you can take delivery of your purchase tomorrow you would be paying for the luxury of paying more tomorrow. Of course they turned the purchase option off.
Went to see purchase option on Schwab, and it didn't allow transaction. Stated to call them if believe viable traded fund , etc.
Am I missing something?
Any other etf's anyone's looking at with this oil mess?
1
Posted on 4/20/20 at 4:07 pm to mmcgrath
Popeye's chicken sandwich costs more than a barrel of oil.
WOW
Posted on 4/20/20 at 4:16 pm to bayou2
Just went to the corner Valero, grabbed a few thousand gallons and they paid me enough to cover the rest of my mortgage!
Posted on 4/20/20 at 4:34 pm to tgdk11
An option for what?
ETF's have gotten hammered recently, I haven't heard of any that have liquidated yet, but most reserve the right
ETF's have gotten hammered recently, I haven't heard of any that have liquidated yet, but most reserve the right
Posted on 4/20/20 at 4:51 pm to tiger1014
So some of y'all educate a brother.
I saw where oil was -$30 a barrel (west Texas crude). I think that means that folks who have bought futures are paying people to take them off their hands because they can't take the oil next month. Is this correct?
If that is correct who are the paying to take the futures contract??? Cause them frickers are fiddin to get paid BOYEEE.
I am assuming there is a contract for a barrel of oil that is yet to be produced but will be delivered next month at a price the current futures holder paid...but now they do not have the refining or storage capacity so they are paying someone to take delivery of the oil and the oil then belongs to the person they paid to take delivery?
I am certain storing oil ain't no cheap undertaking but there are places that do it, no???? And I would assume it will last a long time in an unrefined state???
I saw where oil was -$30 a barrel (west Texas crude). I think that means that folks who have bought futures are paying people to take them off their hands because they can't take the oil next month. Is this correct?
If that is correct who are the paying to take the futures contract??? Cause them frickers are fiddin to get paid BOYEEE.
I am assuming there is a contract for a barrel of oil that is yet to be produced but will be delivered next month at a price the current futures holder paid...but now they do not have the refining or storage capacity so they are paying someone to take delivery of the oil and the oil then belongs to the person they paid to take delivery?
I am certain storing oil ain't no cheap undertaking but there are places that do it, no???? And I would assume it will last a long time in an unrefined state???
Posted on 4/20/20 at 4:57 pm to Gtmodawg
Dan Eberhart, chief executive of oil services company Canary LLC:
“A tidal wave of bankruptcies is about to hit the sector,”
That ain't gonna be good....I wonder if folks were joking about dust storms 12 months before the drought hit the plains that drove the great depression? I bet they were....
“A tidal wave of bankruptcies is about to hit the sector,”
That ain't gonna be good....I wonder if folks were joking about dust storms 12 months before the drought hit the plains that drove the great depression? I bet they were....
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