Here is an updated look at stock levels of oil and products from the EIA’s This Week in Petroleum:
WTI spread options update…
Here is a snapshot from the CME’s Most Active Strike tool... Note that positions in spread option puts were net liquidated while in calls were net
Oil Traders Not Sure They Like Oil… Bloomberg
Matt Levine, Bloomberg, writes: ”One important point in that story is that most big financial investors had gotten out of the May oil futures
The EIA on negative futures prices…
The EIA has an excellent piece in Today in Energy, here... “Under normal conditions, taking delivery of crude oil at Cushing purchased from the WTI
Negative power prices… WSJ
James Mackintosh, Wall Street Journal, has a nice piece on negative pricing in Europe’s power markets, here... ”Better-than-free electricity has
Smoke on the water….
Smoke came out of the computer when I tried to calculate implied vol using the Black-Scholes (or Black for commodities) model for the June $0 put (not