Morning Numbers Crude Curve Vol etc
Life on the hedge 3/8/2023
Apr23-Dec23 65.00 put /87.00 call Swap ref 76.15
Cal 2024 60.00 put /84.25 call 71.84
*Apr-Dec23 Cal avg futures trading at a $4.21 premium to Cal 2024.
June 77.45 *peak price
*Price curve continues contango shaped in front-end, with peak price going back and forth between CLK and CLM.
Moving further back along the time curve prices are trading at premiums. From July23 to further back backwardation characterizes the curve's shape.
Local Pivot Points
81.49 resistance 2
75.63 support 2
*Pivot numbers are based on yesterday's trading range of $2.88 plus high, low, close levels.
April $77.50 straddle 3.45 theoretical value.
*Implies 37.22% volatility. Days to exp: 8
April Cal Avg WTI/Brent spread (BKJ)
Long: Short Open Interest Ratio
*Based on Commitment of Traders Report. Next Monday
All these levels are a snapshot in time on the runway to the market's 9 am opening. These are not trade recommendations.
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