The Morning WTI Numbers; Costless Collars, The Curve, Pivots, and Vol

 Warning; these numbers are constantly in flux obviously and may not represent the current market, not to mention I heard it thru the grapevine.

Time roughly 8:30 am. 

Costless collars
Mar23-Dec23  65.00 p/86.50c   Swap ref 77.35
Cal 24  60.00p/84.00c                                  71.55
*Mar-Dec23 Cal avg futures trading at a $5.80 premium to Cal 2024.
Price Curve
Apr  77.40
May 77.50
Jun  77.45  *peak price
Jul  77.22
*Price curve continues shaped in front-end contango and back-end backwardation.
Local Pivot Points
April CLJ
77.72   resistance 2
75.96   Pivot
74.15   support 2
*Pivot numbers are based on yesterday's trading range of $1.81 plus high, low, close
April 77.50 straddle 5.27 theoretical value.
*Implies 40.55% volatility. Days to exp: 16 
All these levels are a snapshot in time on the runway to the market's 9 am opening. These are not trade recommendations. 
Long: Short Open Interest Ratio
*For next time
Please comment if this is of interest. We are working on incorporating new features and columns
so suggestions are super welcome!


Popular posts from this blog

WTI Update- a 4 Handle Future?

Biden Climate Plan and Global GDP

Gasoline a By-product of Distillate