RE:Share PriceOil really needs to stay strong to support this share price IMO. Or some good news.
EIA was pretty good imo, but some of this up move in WTI feels like shorts getting walloped
Plenty of room to go up in the mid/long term but short term we may get some distribution and sell off slightly.
I was pretty comfortable selling some covered 3$ calls this am over 3.20$ to lock some of that in. Not sure if i will sell l any more tranches yet. was on the ask at 0.35 but no go., this is a core position so if i need to buy back a little higher at expiry will. Pretty bullish on oil this year but its never a straight line up.