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‘There’s Some Real Concern About Oil’: U.S. Oil Fund Put Volume Surges
There’s some real concern about oil from people who are speculating.
That's from Eric Balchunas, an ETF analyst for Bloomberg Intelligence, and he's referring to the following set of headlines which crossed a little while ago:
U.S. Oil Fund Put Volume Surges, August Trade in 134k Block
U.S. Oil Fund August $8.5 put options trade ~146.9k lots as of 1:45 p.m. ET, according to data compiled by Bloomberg.
134.1k bought for 10c in single block ~12:10 p.m.
Open interest 218.8k Wednesday
Thurs
I blame TSLA. Everyone knows that everyone will have to buy a Tesla to justify the stock valuation, and that will kill crude demand.
FU*K big oil they will be the main reason for the next major war in our world. Can’t afford a Tesla then buy a Prius.
If Saudi is attempting to support the futures market, then this performance is a catastrophe.