VBIN's oil stock thread.

[EricL]

Oil products in storage now approaching 5 year lows.

   

[fenders53]

Good news! I have been invested in XLE, XOM and RDS for a little while.

[fenders53]

News the past few days has been fast moving. I put some woke stocks in my port because I expected some gradual shift but I was surprised to see the big funds turn the ESG gang on the majors. I believe your oil supply/demand thesis for the short to midterm, but I am mostly going to stick to XLE for awhile. I am all for a slow transition to renewables as tech allows, but the greenie activists are acting like big oil can just flip a switch and change the business model in a couple quarters. Seems like a ridiculous expectation to me. Things are going to get interesting before long.

[vbin]

Yes energy stocks are down. I bought some rds.b recently and been picking up oxy Warrents.

[vbin]

Just when I made up my mind to triple.doem.on oxy and xle, they run up today. Sold out rds.b for quick action.

My oxy Warrents are up nice today, I wanted them back under $10. Hope icahan has more units to sell.

[ken-do-nim]

My ETF GUSH went through the roof today.  Unfortunately I had only started a position in it.

[fenders53]

(06-01-2021, 03:11 PM)vbin Wrote: Just when I made up my mind to triple.doem.on oxy and xle, they run up today. Sold out rds.b for quick action.

My oxy Warrents are up nice today, I wanted them back under $10. Hope icahan has more units to sell.

I sold a lot of XLE puts the past month but it's never enough when you guess right.

[vbin]

I want to.buy back some oxy Warrents and rds.b, doesn't look like oil is coming down soon though.

[fenders53]

Little chance of that until at least the end of the summer driving season it would appear. My XLE put sells continue to expire every week thorough June. I should have went out one more month. If OPEC behaves things might remain reasonably stable for a long time.

[EricL]

WTI Crude has cracked the $70 level.

   

Onward march!

[vbin]

Yay. I sold 1/4th of my xle recent and bought in more oxy. Hope we see a pullback soon to be able to buy more oil back.

[fenders53]

Hooray, oil is going to $100 and we'll all be rich!

XLE put sells have been good weekly income. I sell them about a month out. I might do it one more time but I will be waiting for things to shake out after travel season. Oil has now passed my summer target. We are at the place where suppliers try to cheat. We'll see if OPEC+ can be patient. It appears maybe they can if they know what is good for them. I don't really see a wildcard other than Iranian oil hitting the market.