The Morning Crude Numbers; Costless Collars, the Curve, Pivots, and Vol for March 2
As of (roughly) 8:30 a.m. est Mar 2 2023
Apr23-Dec23 65.00 put /88.00 call Swap ref 76.50
Cal 2024 60.00 put /84.75 call 72.02
*Apr-Dec23 Cal avg futures trading at a $4.48 premium to Cal 2024.
May 77.90 *peak price
*Price curve continues shaped in front-end contango and back-end backwardation.
Local Pivot Points
78.95 resistance 2
75.49 support 2
*Pivot numbers are based on yesterday's trading range of $1.73 plus high, low, close
April 78.00straddle 4.32 theoretical value.
*Implies 35.21% volatility. Days to exp: 14
April Cal Avg WTI/Brent spread
Long: Short Open Interest Ratio
*Based on Commitment of Traders Report.
See 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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