RE:Hedgeing oil is like selling your cve stock @ $10.00Ughh. I'm almost ready to say frack it, just sell cve, but you better not buy any other oil company, mining company, agri biz,etc etc because most commodity producers use hedges to lock in high prices and protect the downside. Especially if they are beholden to banks. Cve is gushing so much cash right now they are felling cocky enough not to hedge because they've paid down so much debt. So how much they have hedged is irrelevant as per the last news release because they will have zero after q2. I quote "
Cenovus plans to close the bulk of its outstanding crude oil price risk management positions related to WTI over the next two months and expects to have no significant financial exposure to these positions beyond the second quarter of 2022." soundandfury wrote: And then the cve stock rises to $20.00..........if your average cost was say $6.00 you made a $4.00 profit but if you had held your shares you would have got $20.00 for a $14.00 profit instead of $4.00 realized profit.................my 2 cents on hedge losses