RE:RE:Let summer oil at $48 CPG was over $10
Dear Dogsbreakfast4U,
You are correct and may I add that you must substract from $54 another $20 which is the difference between the actual price of $74 and $54 (it gets worse as prices climb , this is why the stock is down).
The net price received by CPG is more like $34 considering the actual spread. Oh I forgot - its unrealized which is the traditional denial word- but the day when the options expire will a great day of sorrow if the price of oil stays high or increases further. Big loss and in currencies it may be worse than the last quarter. Again, I repeat foolish bets were taken to increase their bonus with hardly any downside to their normal remuneration.