Submitted by Forsaken-Secret-7398 t3_zycy8p in wallstreetbets
Oil where did you go? You once took me on a wild ride back in march and June but now have disappeared and so has my money. Please come back in 2023. Where is the oil market headed to next?
OP will now have 2.84 to hammer a leap lol
Your bad bets on options don’t mean oil is a bad investment. I put a couple of thousand each into a mix of high yield oil and gas last December, and they’re not only my biggest gainers, they pay a lot of dividends. We won’t be off oil for a very long time, and unregulated energy companies have regularly show the ability to set prices as needed to sustain profits.
Yeah I'm up another 60% this year making my total gains over 2 years over 300%.
I was king oil in 2020.
Sold out in 2022.
Now, i am short!
Short? Bold. I think it has more to run. But the days of big returns are over. I think we are going to repeat 1965-1980 so anything that generates cash flow and dividends is the place to be. I think oil is safe, but I also sold out.
I bought OXY at 13. So i did really well.
Now short HES.
If you look at oil, historically, the late 70s and late 2000s. Those were the only times it really held over $80/ppb.
Oil stocks have continued rallying while oil has had a strong pull back.
My bet is that oil will stay under $80. And oil stocks will pull back 20-30% next year.
But i can always cover and get out. Not married to the trade! Just going off of data.
Remember, we were releasing 1 million bbl a day for much of this year and we weren't the only country releasing reserves. Additionally 1/7th of the world's population has been on lockdown on and off. Also, most projections have peak global demand somewhere around a decade from now with sustained consumption around today's level until 2050 or so.
I don't know what next year holds, but that was my thesis getting in back in 2020.
Right now my biggest holding is in ET which is currently paying roughly 8% in dividends and plans to raise dividends to over 10% current value by Q1.
I hope the price dips 30% next year. I wouldn't mind accumulating 15% additional shares.
That’s all fine.
I am looking at historically. Only twice has oil gone above $100/ppb in consecutive years. Late 70s with Iran. And during the last bush war.
That’s it. Well, also 1860s. But that’s way out there.
You must be me. I had OXY at like $23.
I am thinking about a short as well. Global central banks are doing the inverse of 2020 right now, whatever is necessary to kill demand.
Love the name! Hack the planet!!
This is solid DD. Thanks. I love it when people trade based on data and not feelings.
Even with China is opening up?
Yep. I think it’s a lot of hype.
Sell the news
What does your strategy look like?
literally just buying oil etfs and holding them, nothing else.... you honestly have to be trying to lose money if your investing in (and not against) oil and somehow down ytd. check any etf. if you bought and held you'd be wildly up. maybe start there first, then move to options.
Buy low, harvest dividends, hold forever. BPT requires some watching, however, as it only pays out as long as oil is above their cost of production (about $66 be barrel but expected to rise as the field is depleted). I wont live long enough to see demand for oil and gas to fall significantly.
Good for lube, though
At least you didn’t buy open oil futures contracts and have to scramble to figure out how to get a cargo shipping or storage contract in place before taking delivery next month..
You don't take delivery unless you have storage. Somebody will always take it of your hands at the right price.
If you take that AVAX learn and earn, you'll have $2.84. That's still 80% more than what most of us have!
Fancy seeing you here mike, what’s a moon farmer doing outside his natural habitat r/cc
This sub used to ban people for posting losses less than $10k.
lube is my friend ,xom
Looks like money isn’t your friend either.
*Laughs in Nigerian
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Oil calls that then expired.
Options are not your friend*. Oil itself has still done pretty well
I buy ITM XLE leaps. I keep rolling them as they get close to expiration. It’s been working so far.
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Welcome home sir.
I'm all in on $NINE, oil stonks are going to the moon you nerd, shoulda just bought stonks
the way you like to get fucked, oil is deff your friend. your just using it wrong.
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My friend at this point you should take the AVAX lesson to cop this $1. Right there it’s almost double profits of what you have!
You must be a true regard to lose money on oil. It has been the best investment for the past 2 years.
Can’t go green with oil
Gotta get that Big Green Energy up fam!! 📈
At least you can earn $1 from Avax
How was the ride down?? Asking for a friend
Heart wrenching and depressing. I kept thinking it was going to turn the corner and every day closer to expiration it would drop dramatically downward until it spiraled into zeros and it was too late to sell
I hurt for you man! Better luck next time 🍀
Earn that dollar, +100% in the last day💀
I used multiple oils looking at this.
I see you use the word investing rather loosely
It’s clear to see where options trading was discovered by this guy
Um I think you mean options are not your friend. If you had put all that money into Chevron shares, you would still be down probably, but not like 99.99% down. And you would have a long term dividend stock that has 0% chance of bankruptcy that you could hold for decades without worrying
tryin to chase that earl money
Neither is money
J3ster14 t1_j2542zi wrote
But you could learn and earn a dollars worth of avalanche, so score!