This spread is now on the radar but waiting to see thing settle down a bit in Texas. So will be ready to act when refiners come back on line or if we push to a crazy extreme
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I am still waiting for this set up to kick in, as you can see going to early would have been not good.
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we are seeing our first signs of this set up, but based on BPR I will work on the middle part of the trade, so will see how early next week looks if today finishes red before even trying to find a spot
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to bad today does not have cash market support, but now we have our set up to take this play shorting this spread anywhere inside the price put in on Friday is fine, obviously the higher up the better. The top of this move could be used as a stop, and probably should because the supply disruption is still not know and the eastern side of the country is in threat of a new hurricane. Often these spreads are a low risk trade this one is NOT low risk.
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Additional note, the exchange is pricing in greater risk also, day of Havey this spread took $800 on buying power today my broker wants $2,800 to put this trade on. So the attractiveness is diminishing
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I am sure many do not know how to place these trade and what my charts really mean, I am willing to have a discussion on how they work, just comment back so I know there is interest.
It has always amazed me how few questions these pairs trade get
It has always amazed me how few questions these pairs trade get