the nearby oil contract October that expires today is up $20,
Nov contract becomes the active front month tomorrow and is only up
about $6. some of that move may be due to the $20 move in the
October. I've seen oil make substantial tops several times on
expiration day, got caught in a short squeeze like this once
myself, though it wasn't the $20 variety. I was looking at
shorting USO today but it didn't get pulled up that much, trading
more in line with November crude. Could have scalped over a
buck though off the short, I expect it will be down more
tomorrow.
the nearby oil contract October
Posted by trade on 22nd of Sep 2008 at 02:50 pm
the nearby oil contract October that expires today is up $20, Nov contract becomes the active front month tomorrow and is only up about $6. some of that move may be due to the $20 move in the October. I've seen oil make substantial tops several times on expiration day, got caught in a short squeeze like this once myself, though it wasn't the $20 variety. I was looking at shorting USO today but it didn't get pulled up that much, trading more in line with November crude. Could have scalped over a buck though off the short, I expect it will be down more tomorrow.
good explaination, thx
Posted by matt on 22nd of Sep 2008 at 02:54 pm
good explaination, thx