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Options Trader: Wednesday Outlook

Posted on June 11, 2008

Hey ho, let s go! Obama and McCain appeared on CNBC and neither one said anything particularly scary to spook the markets, so it would be nice to make a little progress this morning ahead of the Beige Book (2 pm)and the oil inventory reports (10:30). Last week we had a 4.8M barrel draw in crude and a 2.9Mb build in gasoline and a 2.3Mb rise in distillates as refiners came on-line, but demand for gasoline fell 1.4% from last year s holiday weekend. Traders took the opportunity to play the draw in crude into a $12 increase in the price of oil on Thursday and Friday, half of which they ...

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beige book , crude , markets