Home Forums Ask Sean USO

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  • Ernie Mills
    Participant
    Post count: 69

    My limit order hit last night @3.50.

    Marilynn Mittan
    Participant
    Post count: 13

    USO @ 3.02 in pre-trade. Could it go even lower?

    Ernie Mills
    Participant
    Post 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 Hyman
    Keymaster
    Post 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 Pearcy
    Participant
    Post count: 615

    3rd tranche filled @ $3.23

    James Box
    Participant
    Post count: 12

    bought 3rd at $2.97 still going lower.

    Bala Balamurali
    Participant
    Post count: 16

    3rd tranche filled at $3.00 and it looks like a steep slide…

    Chas2008
    Participant
    Post count: 6

    I had a limit order in for 3.6 and it executed at 3.20. Good surprise.

    Sean Hyman
    Keymaster
    Post 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.

    Aphroditus
    Participant
    Post 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?

    Sean Hyman
    Keymaster
    Post count: 11198

    Scroll back in a couple of the USO threads. Not only did I contact USO owners/managers directly and copy/paste what they said today but also provided links from their site that answers all of that as well.

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