What’s Up? Not Oil
Tim Knight | Aug 02, 2021 12:09AM ET
The entire weekend, all the headlines were lockdown-this, delta-that, and yet, as required by federal statute, all the equity futures shot higher and are bright green. It’s encouraging to at least see some sanity in the world of crude oil, which seems a more honest reflection of the world’s economic prospects.
As a reminder, I am an energy bear, and my largest position is a ton of October 15 2021 put options on the Energy Select Sector SPDR® Fund (NYSE:XLE):
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