WTI Costless Collars, Price Curve, Pivots and Vol pre mkt.

WTI
Costless collars
Apr23-Dec23  60.00 put /84.00 call   Swap ref 72.27
Cal 2024          55.00 put /83.50 call                    68.85
*Apr-Dec23 Cal avg futures trading at a $3.42 premium to Cal 2024.
Price Curve
Apr  73.11
May 73.25  
June 73.30  *peak price
July  73.17
*Price curve continues contango shaped in front-end.  
  Backwardation characterizes the curve's shape from June 2023 and onwards.
Local Pivot Points
April CLJ
78.52 resistance 2
77.59
76.18  Pivot
75.25
73.84  support 2
*Pivot numbers are based on yesterday's trading range of $2.34 plus high, low, close levels.
Volatility
Apr  $73.00  straddle 3.59 theoretical value.            *Implies 65.46% volatility.      Days to exp: 3
May $73.50  straddle 8.04                                                            44.30                                                 35
*Vol spiked on this morning sell off.  
Apr Cal Avg WTI/Brent spread   (BKJ)
--5.40/-5.33
All these levels are a snapshot in time on the runway to the market's 9 am opening. These are not trade recommendations or quotes.
Not trading advice, not a publication of any firm, this is a personal blog expressing an opinion for educational purposes.

 

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