Mar. 19 at 3:39 PM
Oil / Energy
🛢️ OIL ABOVE
$112 — Institutional money loading energy calls.
CVX net +
$3.8M calls. USO net +
$3.6M. XOM net +
$1.2M. Even UCO (2x leveraged crude) seeing
$1.7M in net call premium.
The backdrop: Iran struck Qatar's Ras Laffan LNG facility. 17% of Qatar's LNG output knocked offline. Iran publishing HIT LISTS of Saudi, UAE, Qatar energy infrastructure. 400M barrel reserve release = 4 days of global consumption. It's a band-aid on a gunshot wound.
The Hormuz crisis has removed ~8M bpd from global supply. Navy escorts aren't happening until end of month at earliest. IEA reserves are a short-term fix.
One outlier:
$FSLR saw
$8.2M in PUTS, zero calls. Someone betting solar/renewables get crushed by the cheap-oil-forever-narrative returning. Or tariff risk.
$USO $XLE $CVX $XOM $FSLR