Is anyone advanced enough to calculate the NAV (and therefore SP) of OOO if the price of oil was say $12 and we rolled onto July contracts?
I got burnt on this trade... so don’t take my advice DYOR, However I have been wondering if it might be worth reentering at a point where the POO is at super record lows (can’t go much further than Zero, so the risk /reward is getting a bit asymmetric) and the contango situation has eased... won’t need as much gains for the trade to be very positive if the roll over cost is a few % and it is likely to happen over a period where economies start to re-open.
Is this flawed thinking?
OOO Price at posting:
$19.36 Sentiment: None Disclosure: Held
