Morning WTI Numbers; Costless Collars, Cal Avg, the Curve, Pivot Points, and Vol. Mar 7

 Heard thru the grapevine. Not trade recommendations. Read at your own risk.

 WTI

Costless collars
Apr23-Dec23  65.00 put /92.500 call   Swap ref 7866
Cal 2024          60.00 put /88.75 call                      7386
*Apr-Dec23 Cal avg futures trading at a $4.80 premium to Cal 2024.
Price Curve
Apr  80.00
May 80.05  *peak price
June 80.00  
July  79.75
*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
April CLJ
83.11 resistance 2
81.28
79.80  Pivot
78.97
76.49  support 2
*Pivot numbers are based on yesterday's trading range of $3.31 plus high, low, close levels.
Volatility
April $80.00 straddle 3.49 theoretical value.
*Implies 34.65% volatility. Days to exp: 9
April Cal Avg WTI/Brent spread   (BKJ)
--510/-503
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, and do not represent ANY firms opinion. 

Generated by all natural intelligence.

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