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EC Nebraska | Not JP. NoDakFarmer was the one that mentioned 4.20 as a possible target. I don't recall the exact post, but he wasn't particularly in your face about the call, it was just mentioned as a possibility. I believe it was something along the lines of "this seems to be all the energy I can see at this time, enough to take it to 4.20 but maybe no farther this spring" Those guys get a lot of crap when they post anything specific, and they don't deserve it.
In this case, I thought about it, decided that I could handle 420 better than 380, and put in the offers. Yesterday, I sold one 370 put for 20 cents against one of those short positions. That way, if we drop further, I participate until 350; if we expire above 370, then I'm short at 440 instead of 420. That's actually profitable. I'll watch how this week goes, I might just sell puts against the rest of my shorts if we re-test the lows.
Edited by NE Ridger 6/23/2018 12:26
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So the marketing gal called.
