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    Straight of Hormuz still closed

    As of now, the straight is still closed. Oil dropped on the hope that the ceasefire will remain and the straight will open, but now that Israel has broken the ceasefire, all deals are off. The oil has dropped significantly when the news broke out yesterday, but still hasnt budged today (Wait and see zone). The fallout of the oil still hasnt reached the US. Some tankers are still on the way before the 3 day excursion. The US and north america in general should be feeling the heat in probably a week. With inflation data coming up this friday, I dont see how there is any positive outlook moving forward. Even if a Taco was about to happen, the real disruption of oil will be felt in all aspects of our economy. Food shortage, gas prices doubling, transportation costs (transport companies are now charging by the kilo, not the pallet.), etc.

    Today might have been the bullest trap of all, but this market is irrational. Believe it or not, calls (on OIL).

    https://preview.redd.it/h1opwc2340ug1.png?width=688&format=png&auto=webp&s=5926a8bb6839fe021c5fd774ffaeb839a0ff21bd

    My positions as of now :

    50 570 Strike QQQ Puts 1/05

    The reason why is simple; tech gets hit the most.

    Straight of Hormuz still closed
    byu/Haboubiii inwallstreetbets



    Posted by Haboubiii

    26 Comments

    3. John-AtlasGames on

      Everyone was like “sure grampa you can have a ceasefire and say you won bigly,” while nothing changed on the ground.

    5. thupkt on

      I just came here to scroll down and see how many are still saying “GFY Bers UR dead.” I’m hopeful that number is still high so I can make more on the way down later this week.

    11. BooBrew32 on

      People laughed at bears this morning but I’m not surprised the bulls will ultimately get screwed again.

    12. xavras_wyzryn on

      That’s gonna be the largest bull trap in the history of bull traps, maybe ever.

    14. Routine-Phrase457 on

      Dude… I’m still holding my calls on LNG… we’ll see when winter hits

    15. roke34442 on

      Great, now we find out that reports of the ceasefire ending are false. How am I supposed to make money when the news is all over the place?

    21. CounterTop196 on

      the market just needs any reason to go up whether or not this falls out is irrelevant now

    22. sdsurfer2525 on

      Fuck the oil, people are sleeping on the fertilizer used for farming around the world. People are going to starve to death because of this stupid shit.

    24. brekkfu on

      Yeah, even with a ceasefire in place, I wouldn’t want to be the first ship to try and go through whatever mines are floating out there.

    25. hoppertn on

      I’ll add this, my price per gallon went UP 10 cents from yesterday to today. There are some serious greedy MF in America ATM.

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