I thought with the big spike in oil over the weekend and today this thing would be flying. Instead it is down $1. I can't figure that out especially with Exxon and Chevron both up. Any ideas or worries from anyone, except the guy with all the short threads.
Decided not to wait, and added a few hundred shares at $49.29.
Will see if this was a smart thing to do as the time draws closer to June.
May write some calls at strikes of $50 just to bring in a couple dollars while waiting.
According to Libyan European analysts, Libya is really not a nation, but resemble more like a confederation of tribes or clans. Kaddafi, through terror, has been able to control the tribes rivalries for the last 40 years. The Libyans are very much attached to their clan and tribe in the larger sense. What this mean in the Kaddafi has lost the "terror" aspect of his persona and the tribe chiefs have regain control of their tribe. Kaddafi has brought in hundreds of African mercenaries to regain control. The Libyan Army is split among the tribe, and will likely secure the tribe oil field located on tribe territories. True Kaddafi has called for the burning of all petroleum installations. Kaddafi has lost control and only the mercenaries can accomplish this insane activity. Not all is lost in Libya, just Kaddafi the heroine addict.
"The White House said it was studying Kerry's proposal to reimpose sanctions that were lifted by the Bush administration but, for now, was focused on ending the bloodshed, which sent U.S. oil prices to near 2-1/2-year highs"
I seem to remember MRO climing steadily to $120.00 after these sanctions were lifted. This will be interesting. The people that are trading this can do real well if they call the situation correctly. I'm holding.
I own the April 50's @2.25 each. I am only down .30 per option so that is not too bad so far. I was thinking about selling them but I decided to stay long as well. I still believe that $50 is doable by the end of April.