**Rolled USO from 3-27-26 100C to 4-2-26 104C.** Thesis is this has all been the warm up act and the real show is about to start. Global oil inventories are shrinking and going into April we could see major shortages. At this point even an end to the war won’t go all the way to fix the blown up refineries and missed shipments.
**Trimmed BNO because my anxiety is too high.** I have PTSD (Post Tweet Stress Disorder). Watching this position shoot up $20,000 on Friday and then fall $30,000 on Monday has given me an eye twitch.
**Added 10X LUV 4-2-26 43 puts.** This is also an oil trade. I was a lifelong Southwest fan and now my bags don’t fly free, my credit card fee has tripled, and I have to pay extra to sit next to my annoying kids. Airlines are notoriously unprofitable and as the oil crisis draws out we will be seeing a lot of sky-taxis hemorrhaging red.
**Rolling CVNA puts.** Carvana is vulnerable to higher rates and higher oil prices. Almost every vehicle Carvana sells has to be flat-bedded hundreds of miles. The market has given them a x50 Pe ratio and forgotten they are a consumer cyclical company.
**Disclosure**: I am a retail trader and a WNY car dealer, and not a finance or oil pro.
**BFLO-Retail**