RE:Look at the hedges real carefully
Here is how it should work - sell your oil in one year for say $57. If the price goes above 57 you get 57 , if below you get 57. No big risk but you guarantee break even, Not these gamblers because they won a jackpot 4 years ago they bought and sold options without caps, really bad in a huge company like this,. Yes they did not presell at say $57, they guaranteed $57 oil PLUS thay have to pay dollar for dollar on top of that for each price increase, -----they should have been kicked out earlier. If the price goes down because they have straddles if swings are extreme same catastrophic loss. Stupid bets the board of did not understsnd and they should be sued too