/biz/ - Business & Finance

[Anonymous No.18583090]

>barrel of oil is literally below $0
>somehow I'm too dumb to profit from this situation
This shit ain't fair yo

[Anonymous No.18583409]

Laughing at /biz/fags is enough profit for me

[Anonymous No.18583673]

Profit by buying PoW coins like CKB and BTC
Simple

[Anonymous No.18583708]

>>18583090
Stop buying idiotic fucking shitcoins.

[Anonymous No.18583771]

>>18583090
I feel you OP, being a brainlet is suffering

[Anonymous No.18583785]

>>18583090
There is no way for an ordinary person to profit from this, shares are not moving. Only the rich will get richer as usual.

[Anonymous No.18583815]

>>18583785
this. i dunno how these idiots don't get that. you can't fucking buy barrels of oil directly. invest in marathon, or USO. that's your best bet and no, those are not negative you dumb fucks

[Anonymous No.18583817]

let me put this as simple as possible
>buy oil barrels for $10
>buy a barn to store the oil
>you now need to sell the oil with a $10 margin to cover the cost of the barn
>time passes
>oil still hasn't reached $20 a barrel
>barn needs repair
>you now need a $12 margin to just break even
>time passes
this is what buying oil right now means.

[Anonymous No.18583825]

>>18583090
buy tanker stocks

[Anonymous No.18583867]

>>18583817
why would the barn need repair? will it magically collapse?

[Anonymous No.18583890]

>>18583090
>step 1: buy thousands of barrels of oil
>step 2: recieve money and barrels
>step 3: give away the barrels for free (or really cheap for some additional delicious profit) to clueless normies

[Anonymous No.18583904]

>>18583867
chinese metal

[Anonymous No.18583955]

Regular citizens have no way of buying barrels of oil. It's impossible for us to profit then isn't it?

[Anonymous No.18583997]

>>18583955
bro where the fuck are you gonna put 1000s of barrels of oil?

[Anonymous No.18584495]

>>18583090
Is there a way to see the terms of such a futures contract? Does it specify the delivery location, transport and storage requirement, potential late pickup fees, etc?

[Anonymous No.18586169]

>>18583090
yeah you are a moron.

You should have bought this ETF:

https://www.tradingview.com/symbols/AMEX-DTO/


It's literally a stock that shorts oil.

way to fuck up again, anon.

[Anonymous No.18586235]

>>18583867
EPA inspections, storage licenses, municipal approvals, fire inspections, security, property taxes...

[Anonymous No.18586303]

>>18583867
and even then, how many barrels could a barn hold? a few hundred? you would be lucky if you can cover the cost of the land the barn is on...

[Anonymous No.18586519]

>>18583090
can't you just get the contract now and then sell it later to someone else when the price goes back up and demand increases? then you don't have to buy the oil, you just sell the contract.

[Anonymous No.18586584]

>>18583890
The physical barrels are not included in the price of a barrel of oil. And metal is expensive. And so is transporting thousands of barrels to your property. There is no way to profit from this for your average person.

[Anonymous No.18586620]

>>18583825
This. TEEKAY GANG

Also, made a lot on FRO today, feels greedy good

[Anonymous No.18586682]

>>18586584
So buy barrel stonks?

[Anonymous No.18586770]

>>18583090
I’m confused. Brent crude oil is at 25.50 or am I missing something?

[Anonymous No.18586837]

>>18586519
>can't you just get the contract now and then sell it later to someone else when the price goes back up and demand increases?

The contracts have an expiration date one month before the date of delivery. The reason prices went negative is because several contracts were set to expire tomorrow, and the oil for those contracts is gonna be delivered in May. The people holding those contracts don't actually have the ability to store the oil, they are financial speculating kikes and retards like you and me who are allowed to buy those contracts and hope the price will go up and they can make money. The price didn't go up and they held the contracts until the last second, and realizing the situation they were in they had to pay people with storage to take the contracts off their hands, hence the negative price.

>>18586584
>There is no way to profit from this for your average person.

Come May, if the prices go negative again just "buy" up all the contracts you can. Accept payment from all these people to the tune of several million. Cash out and skip town before the delivery date. Hide somewhere outside of the reach of the Feds.

[Anonymous No.18586858]

So it's a good thing that I didn't buy a commodity ETF?

[Anonymous No.18586916]

>>18583815
>invest in USO
please dont do this unless you know what USO actually is and what contango is.

[Anonymous No.18586993]

>>18586837
2k/month living expenses means accepting 1 contract would allow you to live on the lamb for 10 months, assuming it's still -20 per barrel, and you cash it all out without getting flagged by the bank. screw someone over on 12 contracts, that's 10 years. just change towns every couple months and you'll be fine.

[Anonymous No.18587019]

>>18583090
>18583090
Calls on storage. Esp. tankers, as they won't have to expend money, they'll just fucking float it.

[Anonymous No.18587022]

>>18586770
Brent is not US oil. It's holding up better than US oil. Canada is kill.

[Anonymous No.18587027]

>>18586770
Yeah it's just the WTI May contracts that are actually crashing.

[Anonymous No.18587072]

>>18586169
Wtf. I didnt know this was a thing. Wtf

[Anonymous No.18587133]

>>18583817
>you now need to sell the oil
To who? You can't just walk into a merchantile exchange and offer your barrels.
If you take delivery on an oil futures contract, it's a one-way transaction. And, unless you store it properly, it's worthless to a manufacturer, and no refinery will buy crude from some random who somehow managed to by physical barrels of crude (spoiler: it's almost impossible to buy crude in barrels at retail. Go find someone who will sell you barrels. I triple dog dare you.)
These conversations are pointless exercises in autism, because they're based on fantasy, by autists who have no clue how any of it works.

[Anonymous No.18587166]

>>18586519
The contracts expire tomorrow, stupid. Stick to linkchain wish threads, they're more your wheelhouse.

[Anonymous No.18587209]

>>18586584
Crude is not sold in barrels you fucking retard.

[Anonymous No.18587214]

>>18586584
An EPA approved barrel would run $100-150 in bulk. So 1000 barrels - $100k easy to just get the barrels. Now, you have to find someone to put the oil IN the barrels, and since that's not something that's done, that's a custom order.

I'll stop there. Most of these threads are just shitposting, anyway.

[Anonymous No.18587234]

>>18586993
>live on the lamb
The word your illiterate ass was fumbling for is "live on the LAM", stuttering prick.

[Anonymous No.18587250]

>>18583785
Implying

I made 8k today off shorting CFDs on this niqqa, just cus u basic doesn't mean we all are

[Anonymous No.18587254]

>>18587234
goes without saying. a couple clicks of the mouse, and you're staring down the barrel of living off the grid for 10 years.

[Anonymous No.18587293]

>>18583817
Literally theta decay broken down retard style

[Anonymous No.18587311]

>>18587133
Hey, planet money did it.

[Anonymous No.18587486]

>>18583825
>>18586620
Who else on suicide watch after missing that +30% on GasLog?

[Anonymous No.18587664]

>>18583090

/biz/ is so fucking thirsty for memecoins that it forgot how to invest your money.

In times like these synthetic products are perfect. You literally just make a bet with the seller that the price will drop. Thus buying a product (contract) which value is determined by an underlying asset - in this case WTI or another oil price.

You can either go long (bull) or short (bear) and both products can be geared. Highest I've seen is x15. So in a single day of say a 50% drop, a bear WTI x15 with a $1,000 cash-in would make you in the neighbouthood of $7,500.

But I guess that to many of you people I might as well be speaking Russian.