Im the dumbass that bought calls on SCO. Imagine going up 10% but delta is so high it didn't move shit.

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$SCO until oil hits 80

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It was 8.6 after hours. I’m looking for 85ish on wti and then below that 75. I think we overcorrect to the downside to 75, which is also the 200-week moving average so nice confluence there. That puts SCO at about 10. I have $9 call so should be a nice payout for me if we see follow through to 75. Buuut I do think we could see price stabilize and maybe bounce around 75 if we get there. Some of the supply is actually fucked so it’ll be interesting to see where oil is in a month. I think somewhere between 75 and 90. But who the fuck knows.

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Any expectations where SCO would land on market open with the crude futures coming? Price ranges?

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Im short too with some SCO calls. Too many on here were calling for 150, Just like they were with silver and we saw how that ended, and how this is clearly ending. Excited for open tomorrow.

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I 100% get why this was the move. Personally think if oil "normalizes" then there is still plenty of room in the play. I do however have what is probably an obvious question to half the users here, how or why is the performance of short ETFs like SCO not yielding anywhere near similar performance?

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I understand why it's not, but I feel like SCO should be up 25% 

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I bought SCO and I’ll double down on it, because I’m betting we taco

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I got SCO calls, so same thing 👍

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Would have been better off selling Puts on SCO if you believes this thesis.

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