JohnCM
3 years ago
Prediction.
At the end of the day. If there is no invasion, there is a relief deflation of the crude bubble. Keep in mind time zones. Ukraine is 10 hours later than California PST.
By 6:00 Ukraine we should know if the speculated Wednesday was right.
If no invasion, buy inverse CRUDE ETF by 6:00 PST Ukrain (10:00 AM PST). Relief rally sends NRGD up 10%.
Investment Risks
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0210
5 years ago
"Our estimated value of the ETNs as of the inception date is $50.00 per ETN"… an additional 50,000,000 ETNs, principal amount $10 per ETN, were issued on April 16, 2020. ...If you hold your ETNs to maturity, you will receive a cash payment per ETN at maturity in U.S. dollars equal to the closing indicative value on the final valuation date."
@ 2.60-2.80 current pps, hmmmm….
SOURCE: page 1: OIL Prospectus, 4/20/2020 Pricing Supplement
JohnCM
5 years ago
Barclays to liquidate oil ETN
Apr. 21, 2020 9:49 AM ET|About: iPath S&P GSCI Crude Oil To... (OIL)|By: Liz Kiesche, SA News Editor
Barclays will redeem in full its iPath Series B S&P GSCI Crude Oil Total Return Index ETNs (OIL -29.8%) on April 30, 2020 and will suspend any further sales or issuance of the ETN as of today.
A premium developed in the trading price of the ETNs as the closing trading price of the ETNs on April 20, 2020 was $3.73, which represents a premium of ~13.5% over the closing indicative value of the ETNs on that date.
The move comes after May WTI crude contracts made history yesterday by plunging into negative territory; June WTI contracts are down 29% to $14.47 per barrel today.
Previously: U.S. Oil Fund approaching zero as all remaining shares issued (April 21)