Morning Update – March 31, 2020

So crowds are showing up to see the Naval medic ship doc in New York Harbor… This is a great sign of the coronavirus problem is only going to get worse. Geez…

Well the hot topic is still Oil and major slowdown in production. Many regional oil prices have dropped below $10, yet NYMEX prompt pricing remains a little too optimistic. I had this idea to short HAL with a Call spread, but I hadn’t considered there could be some bailout money show up for them. So I took 8 contracts for April 3 expiration 7/8 Call credit spread, and that’s all I think I’ll take. I might consider ratios or something else down the road. Surprises will be like a minefield right now. One thing is certain. Oil production is hitting a wall and it should help gas production fall. How much? I don’t know…

Sorry to cut this short, I have shit ton of work to do and I must go focus on that.

holding 50% in UNG

holding 10% in USO

No planned position changes today.

I’m going to start another “service” with stockhoot, maybe do some options trades on there for funzies. This will help me stay active with them and stay sharp with their system.

https://stockhoot.com/ExtServiceInfo.aspx?type=Service&Id=b6931df0-5dad-462e-8d28-06699706a437

go to the link if you haven’t yet to check out my stockhoot page. Unfortunately it does not reflect my actual trades yet, because I have not used stockhoot very long. Also, they do not allow me to make pre-market trades, I don’t like that. We’ll see if that can change soon. Good Luck

Oldinvestor