Anyone still thinks the bottom is towards us?
Or at least that the markets are over priced now?
Why though?
Improvise on storing it. Sell later = profit.
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I did some math, it would certainly not be worth to go through the hassle of owning crude oil just for the amount that fits into a football stadium. At the moment I am opting for the Grimsel barrier lake, it has a capacity of 95 Mio m3, so about 600 Mio barrels. I would expect to make 5 billion CHF and buy the dam, lake and land for 3 billion. So could someone tell me whom to ask to buy the dam and get permission to store oil?
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So what do you think happens with the future contracts when storage capacity is saturating?
Maybe Geberit should buy it and store it in all the baththubs they produce.
if I watch the video below, I think a second dip is comingâŠ
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Then donât watch it 
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It will be delivered in Oklahoma tho, probably need the storage there?
Then I read this NZZ article and think that the dip ainât coming.
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smart move imoâŠ
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Man, I watch that and it makes me welcome the second wave.
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Grimsel ?! 
OMG, you would deserve to be sent straight to jail only for having thought this ! 
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Looks like IB lost some money over the oil trades:
Interactive Brokers takes $88m hit from crude futures collapse (88M USD losses)
[âŠ] several of its customers had been caught on the wrong side of Mondayâs plunge, forcing it to step in and pay the margin calls owed to clearing houses.
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Dumb move IMO. Killing companies in your country, because theyâre paying less tax than they could, is not leading to prosperity.
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Would be nice to have a broker which does not partake in this kind of risky business. Otherwise, one day we might all be busy figuring out when and how will we get our stocks back from a bankrupt broker.
Framing the âcorona relief programâ as help for companies is dumb. It flips it on its head. One Polish economist/politician (@1000000CHF: Mentzen) put it nicely in a recent interview.
The host said: opponents of capitalism argue, that if entrepreneurs supposedly deserve to earn more because they take more risk, then now is the time for them to pay, they shouldnât be helped.
To which he replied: These programs are meant to help employees. If Polish labor law was liberal, then we would have seen millions losing their jobs, like in the US. And since it is the state that has forbidden these companies to do their business, itâs only fair that it contributes to the salary of the employees. It would be highly inappropriate if the state was taxing a company, at the same time preventing it from doing its business.
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The state is not killing them, itâs just preferring to save the ones that actually do pay taxes back to the stateâŠ
I totally agree with this view.
I really donât get this. Why do companies have to be saved in order to save the employees?! If the companies go belly up and ppl lose their jobs then they can apply for unemployment and the state will still help them. On the flip side there are sooo many employees that donât deserve their current job (incompetency, nepotism etc.) and this would be the perfect opportunity to reset/even the scales and weed out the bad from the good. Imagine this scenario: if say an airline company canât pay itâs debts and goes bankrupt, why should the state help it because it took too much risk and didnât have enough reserves accumulated during good time to have a strong balance sheet and pass through this crisis? Why we all speak on this forum about having emergency funds, but itâs ok for companies not to have reserves and the state should save them with taxpayers money?! If this airline company goes bankrupt, it doesnât mean that its planes will vanish. Some other company (stronger one, or more innovative and cash rich one) will pick up these planes and restart the business. And guess what, they will need ppl to operate these planes and run the new business. Who do you think they will employ?
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Donât know the details, but the brokers may be kind of innocent in ârisky businessâ during such weird (or very fast) market movements. Back in the Frankenshock of Jan 15, Swissquote & Saxo Bank made big losses (without really being at fault IMO) due to their programs simply not keeping up fast enough when things drop, margin calls going off everywhere, stuff to sell but using wrong (a few minutes âoldâ) exchange rates are used etc. Clients sue etc.
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You crucially forgot one thing: IBKR is giving customers (and actively advertising) margin loans to trade with leverage.
Though those people might have been long and not realize price could go negative.
The money goes directly to employees. Itâs like unemployment benefit but without getting fired, so, I guess, less drama.
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