Apr. 2 at 7:59 AM
Oil got absolutely hammered today, and the tape didn’t give much mercy to longs.
👉Click to view @NasdaqPulse for timely updates amid the volatility.
$VLO and
$XOM both gapped below key levels and couldn’t reclaim the gap early — a clear sign sellers were in control out of the gate. Buyers did step in later around the 20-day, but the early damage set the tone.
Tactical execution mattered more than conviction today:
Trimmed
$VLO early for a small gain (+37 bps) as the gap failed to fill
Tried to re-enter on dips near the 20d, but timing was off → multiple small losses (-58 bps total)
Final add worked in the afternoon, followed by a partial trim into the close (+27 bps) to lock in some recovery and reduce risk into volatility
Sometimes protecting capital > maximizing upside, especially with position sizing and macro risk in play.
Still holding:
~47% total exposure to
$VLO (partial original + partial add)
Full
$XOM long-dated calls, despite a sharp downside move and range expansion
