RE:Example Using My Numbers...Mat1791 wrote: My HOU ACB(Break Even) = $6.50
HOU = $4.65 therefore I'm down $1.85 or 28.5%
To get back to even HOU $6.50, I need HOU to make 40% (1.85/4.65)
Therefore, at 2X, I need oil to run 20% off of June $25.14 = $30.17 (25.14*1.2)
When in reality, oil on Monday will only cost $18.12 until Tuesday.
Therefore if this holds true and the June gets to $30.17,
HOU will have increased 40%, I will be at break even $6.50
However, oil will have increased 66.5% (30.17-18.12)/18.12
Erosion due to contango...
Frig...im not to far from the same numbers. So, chances are on Tuesday oil will not go up. Might be smart to sell now at a loss to buy in lower?