NAV was $0.37 at beginning of dayI think there is a misunderstanding of how this stock works. The NAV was slaughtered yesterday (fell from $2.88 to $0.37 per share) on account of the deep drop in June WTI futures coupled with leverage. Now that HOU is not levered, I think June WTI (which will roll to July WTI at beginning of May) will need to double a least twice just to get back to even with where the market price is right now.
I think people are thinking about this stock intuitively, i.e. if oil goes up, the stock will go up. But that's not how it works. You're not just paying a premium for oil exposure here, but paying a multiple for it! Strongly consider selling now while the market is dislocated. The market price will catch up to NAV. Don't rely on the market being efficient. I made this mistake yesterday. Please correct me if I'm missing something, but I don't think I am.