Short crude, long volatility

Iran premium hasn’t priced the downside scenario yet. Worth watching WTI $78 as the tell.

Iran premium has not priced the downside scenario yet. The market is sleepwalking.

Worth watching WTI $78 as the tell. If Kharg goes kinetic, the crude curve reprices violently. Vol is cheap right now relative to the geopolitical reality. Position accordingly.

Leave a Reply

Your email address will not be published. Required fields are marked *