Options Trading Concepts Live

Understanding Oil Prices: Insights and Strategies

| Jul 12, 2023
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    Options Trading Concepts Live

    Understanding Oil Prices: Insights and Strategies

    Jul 12, 2023

    In this video, Nick, Mike, and Thomas have a friendly discussion about the oil market. Thomas starts by giving an overview of what's happening in the oil market right now. He explains that the Energy Information Administration predicts that crude oil prices may move to around $80 because of a better economy and increased demand for oil and energy. He also mentions that lower inflation and recent CPI numbers have helped boost oil prices.

    Thomas goes on to talk about the weekly storage inventory numbers, which showed a significant increase in inventories. He thinks this might be because there were fewer oil exports after the July 4th holiday, which is a normal seasonal pattern. Thomas finishes by sharing that he believes oil prices will rise a bit more by the end of the year, possibly reaching $80 to $90 per barrel. So, he is leaning towards being bullish on oil.

    Next, the hosts answer questions from viewers about different trading topics. They talk about trading corn and soybeans, using leverage in futures trading, and options trading on a company called ABBV. They also discuss trading oil without using futures contracts and share some trade ideas and strategies, like covered calls and broken wing butterfly trades.

    Towards the end of the video, Mike gives an update on his position in Micro E-mini S&P 500 futures and how he has adjusted it. He collected a significant amount of extrinsic value and feels comfortable with his position. The hosts continue to keep an eye on the market and discuss potential market movements.

    Overall, this video covers a wide range of trading topics and market conditions. The participants talk about the impact of drought on soybean prices, strategies for covered calls, managing risk, using call skew in trades, and share their personal trading experiences. They also mention upcoming earnings for CRM and discuss a trade involving DraftKings.

    In summary, this video provides an easy-to-understand discussion about the oil market and covers various trading topics. You'll learn about the factors influencing oil prices, different trading strategies, and get some insights from experienced traders. Tune in to learn more with a live Q&A session!

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