By Paul Sankey
Published on January 21, 2022 at 11:47 AM
Strategy Session last night with William Su of Blackrock, a tenured oil analyst & investor. My first question was whether we would see a positive gamma squeeze in oil given the rapid increase in open call interest. The charts below show: 1) the price of a 3-year at-the-money (ATM) WTI call, going up and up and up, and alongside it to the right 2) the scale of open interest in $100/bbl call options for June […]
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By Paul Sankey
Published on January 20, 2022 at 10:17 AM
Strategy Session “Happy Hour” tonight 5pm, special guest is William Su, Director of Research/Head of Energy at Blackrock in New York. One of my jokes about “Happy Hour” is that we don’t have a quorum to start until we have a trillion dollars on the line, with Will we get $10trn in one go, as Blackrock reported this week assets in excess of that number assets under management. Obviously we want colour on CEO Larry […]
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By Paul Sankey
Published on January 19, 2022 at 12:30 PM
Stunning revelation: bullish copper. The genesis of this note was taking a look at Chile, given the very interesting political developments there. Electing a left-wing President (Gabriel Boric) in late December 2021, just two months old enough to be a candidate aged 35, was one thing, but the complete re-write of the constitution that is currently undergoing, with a due date of July 5th, is pretty fascinating from a global historical perspective, although rest assured, […]
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