Chart of Day
Options traders are betting more than ever that crude oil is heading to $200 a barrel as some websites call for a “Day of Rage” in Saudi Arabia and anti- government protests spread in the Middle East and North Africa.
The CHART OF THE DAY shows open interest, or the number of outstanding contracts, for “call” options to buy New York crude for June delivery at $200 a barrel. The number has escalated, along with crude futures, to the highest since the options started trading in July 2009 amid worsening civil unrest in Libya and rare demonstrations in Saudi Arabia. “If you look at the volatility and increase in money for call options in the last month or so, it does suggest that market participants are now more worried about the upside,” said Yingxi Yu, a Singapore-based commodity analyst with Barclays Plc. “People are also quite concerned about protests spreading across different parts of the region.”
Tomorrow is the scheduled Day of Rage in Saudi Arabia. Some protesters came out a day early and were dealt with by gun fire from the Saudi Arabian police. This protest will happen tomorrow. The question is, will those protesters overthrow the Saudi government?
If Saudi Arabia falls to the protesters it will put us into a depression. Our economy as well as everyone economy is governed by oil. Thanks to our President we still can't drill here. When you are paying $6 or $7 a gallon for gas make sure you thank our president and the Democratic Party. Thank them for not drilling in ANWAR,the Gulf of Mexico and off shore. Thank them for their foreign policies. And don't forget to thank them for the riots in this country.
It's time to prepare if you haven't already done so. If anyone wants to know what I'm doing to prepare just ask. I'll gladly tell you.
If anyone can tell me what the Democratic Party and Obama has made better please let me know. I'd love to hear how they have made our lives better.
