25 September 2019 WEDNESDAY newsletter

Greetings: WEDNESDAY 25 September 2019

Closed Trade today:  I made a closing purchase of my short DEC19 85-strike CALLs today at 0.06 ($60.00). I  sold on them on 17 SEP2019  for 0.19 ($190), so the profit is +$130 per option.   Click this bar to see the trade origination:  

Comment:  WEDNESDAY 25 SEP 2019:
DEC19 Crude Oil near $55.43  -1.21 this morning.  This drop in price today has been due to reasons cited in this CNBC news story: (If China continues to buy oil from Iran.) story here: https://www.cnbc.com/2019/08/05/brent-and-wti-price-could-crash-if-china-buys-iranian-oil.html 

The jest of the story is that will Iranian oil back on the world market due to Chinese purchases continuing “could drop” oil prices with this supply increase.

As I mentioned in my comments yesterday, I am shopping to sell FEB20 Crude Oil CALL options soon and possibly the PUTS also to form short strangles.

Summary of positions after today’s trade:

Only one position, my short DEC19 short 420-strike CALLs, see:

That is all today.  Thank you – Don

Don A. Singletary
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