Shanghai buying opportunityChina knows how to implement a lockdown like nobody else.
The 50% lockdown of the 26 million population of Shanghai is supposed to last until Friday by which time they will manhandle the problem. Is that a denial of freedom? Yes. Will it be effective? Yes.
The 7% beat down of WTI is a perfect example of an over-reaction to the "noise" that temporarily moves markets.
The Pros will load up on call options as the premiums get carved because nothing has changed from a macro economic perspective.