Saturday, Jun 21, 2008
Oil to higher this week
The Telegraph: Oil prices soar as leaders gather for Saudi Arabia summit
Oil prices surged as some members of the Opec producers' cartel rejected demands to increase output ahead of tomorrow's meeting in Saudi Arabia to discuss soaring fuel costs
Posted by sold 2 rent 1 @ 03:18 PM (401 views) Add Comment
2 Comments
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1. sold 2 rent 1 said...
Found this listing of PUTS and CALLS on Light Sweet Crude Oil
http://www.nymex.com/lsco_opt_cso.aspx
There are some massive bets that oil will to go to $80 within 1 month
Techieman, your views
2. techieman said...
s2r1 - you need to do a bit of research on this;-).
Ok this should really help!
http://www.commitmentoftraders.com/howtoread.htm
http://www.cftc.gov/files/dea/cotarchives/2008/options/deanymelof061008.htm [Light Crude is between half and three quarters of the page down].
the point is the OI of 55k for Puts for the August strike is not too big since overall futures and options OI is around 3million!
Thats my view on your statement - if the question is my view on the market then ..... well its looking bubblicious to me technically of course. How High? hmmmm