RBOB (January 2018)
Buy 1 GRBF8 155.00 Put for 0.0064 or better. The total risk is $268.80 plus commissions and fees.
Bullish supplies from the Middle East may pressure the energy products. Seasonally, the RBOB Gasoline may be under additional decreased demands. OPEC did raise their 2018 demand projections to 1.51 million barrels per day. The IEA decreased their demand projections for this year and next year globally. Saudi production has been up last month adding to concerns that the OPEC production cuts may not continue. The Oil Producers Agreement may be extended at the OPEC meeting at the end of this month.
We monitor the options position and will attempt to double the premium on the trade.
The minimum tick is 0.0001 equivalent to $4.20.
To close the position!
Sell 1 GRBF8 155.00 Put for 1.0128 or better. The total dollar value would then be $537.60 less commissions and fees.
The Expiration of the option is December 26th, 2018
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This is a long shot as most options expire worthless. The odds favor the writer or granter of the option. The reason to buy options typically may be for the prescribed risk factor except in the case that an option goes into the money and is exercised. It would then become a futures position requiring margin.
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