Buying WTI, oil, on this dip... cuz there is no one else to sellHere's a crazy notion, and I am taking it. I am buying this dip on WTI . The rational is simple: It goes against everything the market is doing , and that is exactly the reason to do it.
Who is left to sell? Is there more supply that will all of a sudden show up and be sold? No more than normal. It is the specs I am targeting.
My position is going to be a delta position. I am long spot with an at-the-money put as an insurance. I am long a 1-week, and am long 2x my spot size. I will sell the spot on various levels as the market rises. If the market falls, I put in long orders. I need about a $2.50 move higher to be break-even.
