Conspiracy?

Don't you hate starting your car on a cold Monday morning and then discovering that your gas tank is empty? I do. In fact, this very same thing happened to me this morning. Here's where it gets good...

So I pull into a local gas station and start to pump gas. To my astonishment, the price at the pump is $2.85! Why on earth is Utah charging $2.85 for gas? Apparently 3 out of 4 major refineries are slow or under maintenance. Can anyone tell me why this is my problem?

Gas has dropped nearly $20 per barrel and I have only saved .06 per gallon. This is ridiculous. Gas was stuck at $2.91-$2.95 for the last year and now with prices declining and forecasted to continue, I am appalled that my local gas station is sticking it to me like this. This morning I decided to fight back. To hedge myself from being assulted at the pump, I bought puts on UPL this morning. There was a nice break of support at $45 and looking at the long term chart, you can see the lower high/lower low effect taking it's toll. Plus, you know how I love breakouts.

Curious to see what the rest of the country is paying for gas compared to you? Take a look at this nifty chart I found....

You show them, Jeff!!! Make 'em pay!!!! BTW, around $2.05 out here in the midwest (southern indiana)....

Jeff,

Was it a pennant breakdown you saw on UPL?

Sorry to disappoint Brett. No pattern here, just a break of support.

Here is another couple of ideas for topics on the blog: Put:Call Ratios
I get the CBOE market stats at the end of the day. Not really sure how to use the data though.

Also, do you ever fix/roll trades, as in turning a bad call trade into a bear call spread. This really seems like it work on trades if you are already buying OTM options and trade breakout suddenly reverses.

Yes, fixing trades by turning them into spreads or otherwise would always be of interest.
Thanks as always

$1.96 in Central IA. I guess we are one of the dark green squares on the map!

Jeff, thats a funny pic with the prices esp. the premium part. I dont have a car since I live in the NY metro area. Public trasport works best here but I do understand the pain of gas prices. Thanks for all the postings.
LT

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About me

  • I'm Option Addict
  • From Saratoga Springs, Utah, United States
  • I am a professional trader and an instructor for Investools. I've had relations with the markets for 9 years. Born in Concord, CA, but reside in Saratoga Springs, Utah. Father of THREE, Husband of one.
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