- 19,470
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More ETNs blowing up.
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That one's futures thank god.More ETNs blowing up.
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I was looking at XOM options for May 1st.
At the money calls, $2.00 bid $5.60 ask
At the money puts, $1.13 bid and $5.55 ask
Look at those spreads. Translation. No one has any idea where the fuck XOM is going to be in a month.
Algos are just programs written by really smart people. They do what you could do, just like a bazillion times faster and more efficiently. Can you read all the headlines and look for tradeable news? Yep. So do they. Just a bazillion times faster. Can you calculate the odds of a certain variable impacting a stock price by analyzing every trade that stock has made in the last 50 years? Yep. So can they. Just a bazillion times faster.If I was more than just an opportunity stock trader, I would probably wish for the inside info on all the algo's that these companies are using to watch stocks. I'm starting to feel like they control the market, more so than analyze it.
Don't fight the algos. Play their game.
The OPEC meeting got pushed out to Thursday (from tomorrow). I expect this to hammer oil and consequently the overall market tomorrow. Unless there is some really good news dropping today, tomorrow should have more blood running in the streets. Or maybe just what passes for a "normal" down day in our new world. Down 3 or 4%.
"US and Canada discuss putting tariffs on Russian and KSA oil".
Ps.. if you are into the energy sector and oil in particular, Chigrl lives and breathes the oil sector. Lots of good info there.
I thought we were an exporter of Oil since last year.
Excluding Canada imports.