Ernie MillsParticipantApril 21, 2020 at 4:20 AMPost count: 69
My limit order hit last night @3.50.Marilynn MittanParticipantApril 21, 2020 at 7:28 AMPost count: 13
USO @ 3.02 in pre-trade. Could it go even lower?Ernie MillsParticipantApril 21, 2020 at 7:34 AMPost count: 69
yes. it can go lower in the short term, but we’re confident it will go higher. I’m excited to pick up more shares at a lower price. We’ll see a NICE profit out of this one!Sean HymanKeymasterApril 21, 2020 at 8:31 AMPost count: 11198
I think some firm likely blew up yesterday and had to unwind some contracts. Supposedly, USO traded out of those contracts April 6-13th according to CNBC. But I can’t confirm that.
This article seems to imply that they were out of the May contract and into June and July contracts. https://www.etf.com/sections/features-and-news/biggest-oil-etf-shakes-structure?nopaging=1
But, rolling forward to those, because of the big gap between contract prices right now, probably did cause USO to lose some value.Scott PearcyParticipantApril 21, 2020 at 10:30 AMPost count: 615
3rd tranche filled @ $3.23James BoxParticipantApril 21, 2020 at 11:31 AMPost count: 12
bought 3rd at $2.97 still going lower.Bala BalamuraliParticipantApril 21, 2020 at 11:36 AMPost count: 16
3rd tranche filled at $3.00 and it looks like a steep slide…Chas2008ParticipantApril 21, 2020 at 5:27 PMPost count: 6
I had a limit order in for 3.6 and it executed at 3.20. Good surprise.Sean HymanKeymasterApril 21, 2020 at 5:29 PMPost count: 11198
Yeah, the drops were so steep, that it’s always possible for that to happen in times like that. Yes, a nice surprise for sure.AphroditusParticipantApril 21, 2020 at 8:55 PMPost count: 124
I’ve read about managers averting a fund collapse can you just help explain the structure of the fund? I’m all for buying AMERICAN oil. If POTUS helps us out with tariffs it could really cause oil to spike but how does the ETF work?
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