Told you /CL would move if i put on a strangle! Now just need to short GILD to make it go back up.

Rolled the 72 DTE /CL 46 put up to 47.5 locking in 600 profit and an extra credit of 0.08.

Leaving there because as soon as it hit 57 sell orders for 7337, 8420, 9000, and 6350 contracts came in and put a cap on the move. At that price I am sure some extra production will come back on line as well.

Commodities follow supply and demand better than stocks and seasonally oil is usually down until the new year. But if we keep moving I will hedge with the futures either way.

Also STO GILD 12/1 76 call at 0.86 dropping cost basis to 77.1. Have a feeling I will be rolling these for a while, still has not found a bottom.

I had thought about adding some puts but under water enough it does not make sense. Sometimes you get to a point where any adjustment is painful. Will just suck it up and roll weekly until even, hopefully won’t take all year.