BP

Abe2025

I cant buy in right now i have insufficient BP :( Fck this would have been a good entry point now

Sunkettle

I'm really bad at selling my options lmao. Had 20BP $41 6/18 puts. Sold them yesterday, could've been up bigly today

CumomEileen

Bought BP because why should the company be worth 5% less just bc the chairman is a bully or a perv or whatever 

Tirikemen

BP keeps fucking up its executive hires. Manifold didn't even last a year. Auchincloss didn't last two. Looney lasted three but he got outright fired like Manifold just did. O'Neill should be good at least. Although if she has skeletons, apparently they will be found within the next two years.

Sunkettle

Anyone else bought BP puts? 🤔

Sunkettle

Shorting BP? 🤔

selesnyaTroll

>Oil giant BP has removed its chairman Albert Manifold over "serious concerns" related to "important governance standards, oversight, and conduct". If there's one constant in the oil world, it's BP kicking itself in the nuts once every couple months.

Ok-Yam-6616

It is either/or situation. Either buy 200 shares and use the full margin or sell 2 puts and use full margin less premium when assigned.  The only part I was not sure of was the interest on the balance that broker subtracts from the buying power. The consensus is that BP reduction is not a subject to margin interest. 

papakong88

The trader has 10K in cash, buys 200 XYZ for 20K. He now has a margin loan of 10K. Assume the maintenance margin is 30% for XYZ, so XYZ will have 14 K in buying power (BP). But he has a loan of 10 K, so the account will have a net BP of 4K. Assume he is approved to sell naked puts. Each 100 put will require around 1.5K in BP, so he can sell 2 puts. (Brokers may require more or less BP.) Therefore, he has enough BP to sell the puts but he does not have the BP to meet an assignment. (His broker may liquidate his puts on expiration day if they may expire ITM.) The premium from the put may reduce his loan (again depends on the broker.)

ilovenoodles06

Ah thank u! So does that mean in the USA u can only open position up to your BP limit? Since u cannot take any margin loan? Wondering about this because of the famous robinhood case where someone leveraged their account like crazy and lost tons of money. Im based in Singapore so my platform takes my cash as collateral from the way i understand my platform

ilovenoodles06

Someone can correct me but afaik, you will use margin when opening a short position. E.g. if you sell 2 xyz puts contracts at strike price of 100, u will need margin to cover these contracts (i.e. 2 x 100 x 100 = $20,000). So ur borrowed margin in this case is $10k ($20k - $10k cash). But usually this margin borrowed is only at risk of liquidation when its near 0dte or DITM. I.e. u fked up. So ur BP is generally not affected if the DTE is far out but as u get closer to expiry, it will be affected. Honestly, its best to check with ur broker on how the BP and margin requirement is calculated

Ok-Clerk393

Genuine question. What do you do? That’s $400K remote in Europe? That makes no sense to me if you’re not lying. I work at a boutique and have friends in tech. The only people I know that make that much money (and are gen-z) are guys that do AI hardware ($1M+ once you count stock — my friend who does this tells me he’s one of like 5 people in the world authorized to work for US companies that have his skill), sales for Databricks or Anthropic, or you own a business. You’re none of those. You’re a business guy probably on your late 20s. Derivatives trader at BP? You claim to not be back office, but you also claimed to be remote. What fucking role is this if you’re being fr.

G-IDIOTTHEMAN

Three day weekend, best time to unwind and lower BP.

McNoKnows

For starters cash-settled futures are more open to manipulation, because you don’t actually have to take delivery of the underlying good, so immediately it opens up the ability to manipulate the index price without physical consequence. Then you build in the fact that the supply and demand in the market is essentially controlled by a very small number of meaningfully large players - so they have full control over the price. Even one of the more concentrated futures markets, Oil, still has far more suppliers, and competition between nations on the demand side, and a shitload of regulation, even if there’s some still some fairly influential corporations within that market. Then on top on top of that, you build in that these are not long-standing, well-established, reputable companies that are controlling this market. Even if you believe Shell and BP are evil, they’re still for the most part extremely cautious and compliant. The top AI and compute players have all kinds of scandals and opaqueness and questionable accounting tied to them. You bet if someone like Elon with de facto presidential immunity has an opportunity to manipulate a market to his benefit then he will. Combine those things and it seems like a recipe for big companies to take some donations from unsuspecting retail investors. Oh and also no doubt Jane Street will find a way to ~~insider trade~~ use their highly sophisticated trading approach to make huge profits on it

scotty9090

I rob liquor stores and gas stations whenever I need to replenish my BP.

OGS_7619

40+ years? 20 years ago top companies by market cap were Exxon, GE, BoA, Toyota, CitiGroup, Shell, BP, Pfizer, Wallmart - the only common in top 10 between then and now was Microsoft.

Trenavix

SMERY, NXT, and VWDRY are all up like 140% the past year whereas big oil corps (Exxon, shell, Chevron, BP) are only up 35% average. People are definitely throwing money into renewables now.

Altruistic-Pin3207

The staging approach is smart — it's essentially a systematic way to cap your max loss exposure at any moment without giving up the full premium opportunity. Deploying in thirds means your worst-case is always one-third of BP, which gives you a lot more runway to manage a leg that goes against you. One thing I'd add to the risk side: for stage 2 and especially stage 3 entries, it's worth checking the actual OTM probability of your short strikes at the time of entry, not just the premium collected. At 0DTE, gamma is so compressed near current price that a 90% OTM strike at open can be at 70% OTM by midday if there's a moderate directional move. The credit hasn't necessarily moved enough to reflect that shift. [strikerate.ca](http://strikerate.ca) shows real-time probability of expiring OTM by strike and expiry — useful before committing stage 2 BP when stage 1 is already running. If the probability on your short strikes has deteriorated since stage 1 entry, the stage 2 fill is riskier than it looks on paper.

Deathb3rry

i legit just random bought CVX after realising inflation readings are finally arrived. Speaking of, what are the key differences between CVX, XOM & BP an investor should take note of?

LarryStink

50pts either side.  The atm iron fly is 100% theta trade. I only trade these in low vix low iv environments and will manage early to avoid end of day gamma risk. I would estimate i trade otm directional iron flys 75% of the time and atm 25% of the time.  I only trade this strategy when certain factors are driving markets, or lack thereof, and when pure delta and long gamma opportunities exist I take those because those generate the returns. Buying calls/puts or outright selling/buying the futures and leveraging up by buying option hedges to increase BP and buy more contracts.  2 or 3 of these trades a year make 90% of my gains. But staying busy and aware of whats driving markets while not bleeding capital is crucial and the hardest part about trading. 

sizko_89

What's the math say? You're averaging what? $100-$150 bucks a month by locking up 12k of BP? Are you using the premium to purchase solo shares while keeping the cash base alone?

sport912x

Sounds chancy . A week to get things going in your direction, not anytime to be wrong. A Csp is lousy leverage. Will you be getting interest on the cash you put up or not. That sounds like $60 a week in interest you lose for each 75k. Maybe find out about Buying Power in a Margin account Instead of tying up 60k for a Csp you should be able to use 6k-8, BP Try these vids from the founders of Tos and Tasty. [https://www.tastylive.com/shows/best-practices/episodes/buying-power-reduction-01-26-2015](https://www.tastylive.com/shows/best-practices/episodes/buying-power-reduction-01-26-2015) [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 STOCKLESS TRADING [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020)

walkietokie

This analysis is a classic, highly polished micro-cap pitch. On the surface, the "Uber of Ships" narrative sounds incredibly compelling—high gross margins, asset-light scaling, macro tailwinds, and an optically cheap valuation. However, looking past the pitch deck and directly into the corporate structure and recent SEC filings (including the 2025 Form 20-F), several structural flaws and hidden asymmetries emerge. Here is the counter-thesis and stress test to prove that narrative wrong. \### 1. The "Uber Asset-Light" Moat is a Concentration Mirage The pitch compares $HMR to a software platform with high switching costs. In reality, an asset-light shipping pool has almost zero customer stickiness. \* \*\*The Reality:\*\* According to their annual report, Heidmar manages a fleet of roughly 49 vessels. Out of those, \*\*25 vessels belong to a single counterparty: Capital Maritime.\*\* \* \*\*The Red Flag:\*\* Over 50% of their physical fleet scale and 37% of their pool revenues are tied to \*one single relationship\*. Their top three customers account for 43% of total revenue. If Capital Maritime decides to pull its ships out of the pool to chase direct long-term time charters, Heidmar’s revenue and the "Uber engine" evaporate overnight. Unlike a real tech platform with millions of fragmented users, HMR is entirely dependent on a tiny handful of old-school shipowners. \### 2. The "373% Growth" is a Reverse-Merger Distortion The pitch touts massive triple-digit organic growth. This is a classic accounting illusion. \* \*\*The Reality:\*\* In February 2025, Heidmar went public via a business combination with MGO Global (a struggling, micro-cap lifestyle branding shell company). \* \*\*The Red Flag:\*\* The 373% year-over-year revenue explosion isn't a sign of exploding market demand; it's the structural result of dropping a functioning maritime business into a blank public shell. \### 3. High Gross Margins vs. Bottom-Line Bleeding The analysis focuses heavily on 55%+ gross margins and operating cash flow, dismissing the net loss as "IPO noise." \* \*\*The Reality:\*\* For the full year 2025, Heidmar generated $55.9 million in revenue but posted a \*\*net loss of $8.64 million\*\* from continuing operations. In Q4 2025 alone, it lost $4.0 million. \* \*\*The Red Flag:\*\* Even when backing out one-off expenses and stock-based compensation, full-year Adjusted Net Income was a meager \*\*$242,970\*\*. For a business supposedly operating at peak cycle efficiency with a "Hormuz tailwind," a structural inability to pass massive gross revenue down to actual net earnings indicates that public company overhead and operating expenses are devouring the cash. \### 4. The Liquidity Trap & Float Squeeze Fallacy The pitch views a 6-million-share float and a 90%+ insider lockup as a coiled spring for a short squeeze. \* \*\*The Reality:\*\* Average daily trading volume sits at a sluggish \*\*49,000 shares\*\*. At a sub-$1 stock price, that equates to less than \*\*$40,000 in total daily dollar liquidity\*\*. \* \*\*The Red Flag:\*\* This is a classic liquidity trap. If a single retail investor tries to build a "large position," they will radically move the market against themselves on the buy side, and find it mathematically impossible to exit in a downturn without crashing the bid. Furthermore, with 90%+ of the company controlled by insiders, minority shareholders have zero voting power and are entirely at the mercy of a "controlled company" corporate governance structure (which recently saw a sudden director resignation). \### 5. The Fatal Asymmetry: Nasdaq Delisting Notice The pitch proudly states there are "no leverage risks." This completely ignores how micro-caps behave in a modern brokerage account. \* \*\*The Reality:\*\* Heidmar received an official \*\*Nasdaq non-compliance notice\*\* because its stock price remained under the $1.00 minimum threshold for 30 consecutive business days. It has a grace period until October 19, 2026, to fix this. \* \*\*The Red Flag:\*\* If an investor utilizes portfolio margin or any form of leverage, holding a micro-cap under a delisting threat introduces catastrophic systemic risk. If HMR drops further or is forced into a reverse split to maintain compliance, risk models at major brokerages routinely slash a stock's collateral value to 0% instantly. A sudden margin maintenance spike in an illiquid micro-cap can trigger forced liquidations of core, high-conviction compounders. \### Summary Checklist Challenge | Pitch Claim | Fact-Check Reality | |---|---| | \*\*"Uber of Shipping"\*\* | Dangerous counterparty concentration (50%+ fleet from one owner). | | \*\*373% YoY Growth\*\* | Optical illusion from the 2025 MGO Global reverse merger. | | \*\*4x Forward PE\*\* | Unprofitable trailing reality (Net loss of $8.64M for FY2025). | | \*\*Float Squeeze Setup\*\* | Text-book liquidity trap ($40k/day total dollar volume). | | \*\*No Leverage Risk\*\* | Active Nasdaq $1.00 minimum bid deficiency notice. | If the Strait of Hormuz opens up and maritime transit normalizes, the single biggest macro tailwind driving the bull case for $HMR collapses. The narrative you pasted hinges entirely on what the CEO calls "positive asymmetry to volatility," claiming that geopolitical disruption allows them to earn even more. If that disruption resolves, the asymmetric math reverses. Here is exactly what happens to the tanker market and $HMR if the Strait opens: \### 1. The Sudden "Ton-Mile" Collapse The reason shipping rates skyrocketed to record highs (VLCCs hitting $400,000–$500,000/day) is not because the world is consuming more oil, but because the effective supply of tankers plummeted. With Hormuz essentially closed, ships have been forced to ballast to alternative loading points like Yanbu on the Red Sea, or take massive, long-haul routes around the Cape of Good Hope to move Atlantic basin crude to Asia. This vastly increased "ton-miles" (the distance a ship must travel multiplied by the volume of cargo). When the Strait opens: \* The 20 million barrels per day of seaborne crude that went offline suddenly floods back into the shortest, most efficient routes. \* \*\*The Knock-on Effect:\*\* Ton-mile demand plummets instantly. The massive fleet of displaced tankers that migrated to the Atlantic will head straight back to the Arabian Gulf, creating an overnight oversupply of available ships. Spot charter rates will experience a violent downward correction. \### 2. The Direct Hit to Heidmar’s Fee Base The pitch correctly notes that Heidmar gets paid a percentage fee (like 1.75%) on \*\*gross voyage revenue\*\*. \* \*\*During a Blockade:\*\* A 45-day VLCC voyage fetching $400,000/day generates $18 million in gross voyage revenue. Heidmar's 1.75% cut is a massive \*\*$315,000\*\* for a single voyage. \* \*\*When Hormuz Opens:\*\* If spot rates normalize back toward historical averages (say, $40,000 to $60,000/day), that same 45-day voyage generates only $2.25 million in gross revenue. Heidmar’s fee plummets to \*\*$39,375\*\*. Because Heidmar is an asset-light platform, its operating expenses (corporate overhead, public company G&A, tech maintenance) are relatively fixed. When their gross fee per voyage drops by 80% to 90%, the business swings from "highly profitable on an operating cash flow basis" back into severe bottom-line net losses. \### 3. The Counterparty Concentration Trap Snaps Remember that over 50% of Heidmar's managed fleet belongs to one single owner: \*\*Capital Maritime\*\*. In a hyper-volatile, disrupted market, independent shipowners flock to pools like Heidmar to leverage their real-time data (eFleetWatch) and navigate chaotic logistics. But when the market normalizes, large shipowners often pull their vessels out of pools to lock them into highly predictable, multi-year fixed time-charters directly with oil majors (like Shell or BP). If Capital Maritime decides it can secure safer long-term yields outside the pool once the crisis ends, Heidmar loses its scale instantly. \### Summary: The Bull Case Mirage The analysis you read treats the current macro environment as a permanent baseline. It boasts about a "4x forward PE," but that forward PE is a projection based on the assumption that peak, war-premium freight rates will persist. If the Strait of Hormuz opens, $HMR goes from a "software-like platform printing money on global volatility" back to what it fundamentally is: a sub-scale, highly illiquid micro-cap holding company tied to a deeply cyclical, deflating maritime market. For a portfolio built around structural compounders that thrive on predictable, secular growth, buying $HMR right now is catching a cyclical knife at the absolute absolute peak of its macro leverage.

godlessLlama

If you have a small account focus on golden plays and 20%-100% gain on each play, keep the risk allocation small (5% or less if possible) and build BP until you can buy multiple contracts for 5% risk of the acct and then sell smart so you can leave a runner for further gains, laddering your SL

falling_knives

Thoughts on the May 2027 BP damages hearing? They're seeking $3.7 billion.

maxy_spy

What’s going on with XoM and BP?

phrieken

BP damages hearing mid 2026?

-Authorised-

(1) Re: Reverse Merger Fair point on the technical structure - it was a business combination with MGO Global as the listed vehicle. But let’s be honest about what matters here: the operating business that merged in is Heidmar - a 40-year-old company with Shell, BP, Saudi Aramco and Glencore as clients. The public vehicle is new; the business, its contracts, its revenue and its client relationships are not. Nobody calls Arm Holdings a start-up because it IPO’d recently. Judge the business, not the listing method. (2) Re: 373% Growth You’re right that full-year 2025 vs 2024 is ~93% growth ($55.9M vs $28.9M). The 373% figure is Q4 vs Q4. Either way - 93% full-year revenue growth on an already-growing base is exceptional by any standard, and Q3 2025 alone was +117% YoY. My original point stands: the market is pricing this like a dying business. Why get in at a higher price when next earnings could be the catalyst that re-rates this? The answer is - you don’t. That’s exactly the asymmetry. (3) Re: Dilution The B. Riley ELOC is real - it was announced June 2025. However, as of December 31, 2025, only 215,272 shares had actually been issued out of the 11M registered - at an average of $1.26/share. That is minimal real-world dilution so far. The facility exists as an option for growth funding if needed - but the company has stated it is self-funding operations. The risk is possible, not current. Worth monitoring - but not the emergency this comment frames it as It will be easy to see when earnings get posted, but that means you have to think if you will be happy paying higher prices. Which is fair if you want double confirmation, but i think my post proves it already is profitable

-Authorised-

Not quite. They don’t own ships or crews. Think of them as the broker and software layer that matches ship owners with oil majors and traders, plans voyages, and takes a fee on each trip. Owners bring the vessels, Shell BP etc bring the cargo, Heidmar runs the commercial side and collects a slice of the voyage revenue for managing it. The edge is their data and relationships, not owning any steel. Check their YouTube out

CouchPotatoFamine

So they have a bunch of ship pilots Shell and BP can summon for trans-oceanic rides?

-Authorised-

(1) Re: Reverse Merger Fair point on the technical structure — it was a business combination with MGO Global as the listed vehicle. But let’s be honest about what matters here: the operating business that merged in is Heidmar — a 40-year-old company with Shell, BP, Saudi Aramco and Glencore as clients. The public vehicle is new; the business, its contracts, its revenue and its client relationships are not. Nobody calls Arm Holdings a start-up because it IPO’d recently. Judge the business, not the listing method. (2) Re: 373% Growth You’re right that full-year 2025 vs 2024 is ~93% growth ($55.9M vs $28.9M). The 373% figure is Q4 vs Q4. Either way — 93% full-year revenue growth on an already-growing base is exceptional by any standard, and Q3 2025 alone was +117% YoY. My original point stands: the market is pricing this like a dying business. Why get in at a higher price when next earnings could be the catalyst that re-rates this? The answer is — you don’t. That’s exactly the asymmetry. (3) Re: Dilution The B. Riley ELOC is real — it was announced June 2025. However, as of December 31, 2025, only 215,272 shares had actually been issued out of the 11M registered — at an average of $1.26/share. That is minimal real-world dilution so far. The facility exists as an option for growth funding if needed — but the company has stated it is self-funding operations. The risk is possible, not current. Worth monitoring — but not the emergency this comment frames it as

WisconsinNumismatist

Which is fine and dandy until you realize that oil prices are quick to rise and slow to fall. Far too much infrastructure has been maimed in this conflict. We won’t see oil below $80/barrel for at least a year. That doesn’t take into account Chevron and BP milking as much profit as they can on the trickle down.

Prongs007

Rather than BP risk, it was concentration risk (vol expansion -> more portfolio margin req -> MU became 30% of my port risk instead of 15% pre drop -> call came around $730 -> drilled down -> had to kill 200 shares) Speaking of unlucky MU is back to $787 in 24-hour trading. Lol

RevolutionaryPhoto24

Using day trading BP to buy shares to increase BP for OTM risk reversals. What could go wrong? They’re shares.

pineapplelover212

Oil absolutely flying . One stock I’d recommend is BP! Still not recovered from its drop last week despite oil rise

Cussec

I’m hoping you’re right about that tank. I sold my entire holding @ $255. I was happy because I was about 55% up. Then. Fuck. Me. Yesterday that little devil on my shoulder told me to buy back in. Realised some BP stocks and bosh. I’ve done it. Shit. I’ve just bought high !!! What an idiot. !!!

RevolutionaryPhoto24

I usually like that, keeps me out of trouble underestimating the value of contracts and slow BP replenishment. But after a day like today, it’s silly stingy.

RevolutionaryPhoto24

C’mon Fidelity, refresh my BP. We both know you’re underplaying things.

WhoLickedMyDumpling

With my last $400 BP i bought some 7410 puts and prayed to the ber gods just a casual 5 bagger, that's all I ask, and it was granted

kyndrid_

yeah i missed that rocketship because my options BP was tied up in selling premiums to MSFT bols and SPY bers. Still got in for 5 contracts today and already up 8% on them. might turn them into a spread though to neutralize iv crush

MysteriousResist4570

if you don’t have to sell, then you don’t have to pay tax. This mean that you get interest free from tax man, for as long as you can hold on to the shares. In this situation, even if the stock performs slightly less well, you still cime out better because of the free leverage you got from the tax man. If you have the BP, one possible move is to buy back the short call and sell 2 new calls at new safe strike/new safe delta with net credit for the overall “roll”. You’ll get to keep the interest free money from the tax man.

RevolutionaryPhoto24

YOLOing all my day trading BP into close…

ratedpg_fw

CNN is really stupid. This war is stupid. It really started in 1953 when the US and British Petroleum took out their elected leader because he wanted to nationalize their oil and BP wanted to steal it.

pineapplelover212

I hope so too! Need BP to recover its share price!

sport912x

If you can roll for the same risk (BP) for no debit or better a credit then sure, so two of those look good.

Curious-Rip-5834

With >$100k margin balance, Robinhood charging 4.5%. 13% is absurd. You can definitely ACAT your entire account and debit balance over and Robinhood actually had a room 3% bonus for new account transfers with margin debit balance. Be very careful on box spreads. Some brokers will still require ridiculous cash collateral which negatively impacts your BP in meaningful way, basically defeating the whole purpose.

-Authorised-

HMR – Heidmar Maritime: Nearly Unborrow-able Float, 90%+ Insider Lock, CEO Still Buying. The Squeeze Math is Real. Search YouTube (they have started posting there too) Position: [Long HMR – Looking to Buy Starter] --- The Float Situation - By the Numbers This isn’t a vibe. Start with the • Insiders own over 90% of HMR. Only 9.54% is held by the general public • Short shares available: effectively 0.00MM - the stock is nearly unborrow-able • Days to cover has risen 78.5% year-over-year • Only 8 institutions hold shares (~93,000 total) - and Citadel and Two Sigma are among them CEO Pankaj Khanna holds ~45% personally and is still accumulating. His own words: “The only thing I’m worried about is if I keep buying, there will be no float left.” Why This Isn’t a Garbage Float Play Most tight-float tickers are debt-ridden disasters. HMR is structurally the opposite: • 55%+ gross margins - consistently. Fee-based, asset-light model. Think SaaS margins hiding in a shipping ticker • Debt-free cash pile approaching a majority of market cap - back out the cash and you’re paying almost nothing for the actual operations • Asset-light model - they don’t own ships. They manage commercial pools and voyage operations for Shell, BP, Vitol, and Saudi Aramco. 40-year operating track record • Zero debt = low dilution risk CEO on the business model: “When rates rise, we earn more. When disruption hits… we earn even more.” He’s described it as self-funding in any environment - and noted they actually preferred the pre-Strait of Hormuz baseline, meaning geopolitical disruption is pure upside on top of an already-profitable core. The Squeeze Setup • 90%+ insider ownership = structurally micro float • 0.00MM shares available to short = nearly impossible to borrow • Days to cover up 78.5% YoY = the squeeze mechanics are tightening, not loosening • CEO openly accumulating = float shrinking further in real time • 30 new-build tankers entering their managed fleet over the next 2 years = hard fundamental catalyst incoming • Stock trades at a fraction of sector valuation despite a margin profile that peers can’t touch The awareness gap is the fuel. Shell and Aramco trust them with their voyages. Public markets barely know they exist. When that changes, the float math does the rest. Risks - Be Honest About Them • Illiquidity cuts both ways - large entries move the price against you • No guaranteed timeline on the awareness catalyst • Trades in sympathy with broader shipping sentiment during sector selloffs despite the decoupled business model • Self-funding claim sounds solid but stress-test the balance sheet yourself before sizing up --- This Isn’t a Pump. It’s a Structural Setup. Nearly unborrow-able stock. Insider accumulation compressing the float further. 55% margins on a debt-free balance sheet. 30-tanker fleet expansion incoming. CEO buying above current prices. Either he’s wrong about his own company - or the market hasn’t caught up yet. Anyone tracking short interest developments or has eyes on a borrow rate emerging? Curious if the institutional names (Citadel, Two Sigma) are positioning long or setting up on the short side. Not financial advice. Micro-cap with real liquidity constraints. Do your own DD.

TheShayger

BP maybe? logo looks like a flower

Paul_Robert_

Thank you bro! She is doing well :) She's dealing with some other age related health issues, and high BP, but thankfully, it wasn't cancer! My grandmom also just got a pacemaker recently, and she's doing well. Wishing the best to you and your family as well ❤️

Tradingland

SGMT 's ACNE drug will rack in over $1 billion in sales per year once approved. Same drug clear P3 for ACNE in China with flying colors. Same drug is also tested for MASH with billions in TAM per year. Market cap is still under $500 million with no premium for the potential block buster ACNE and MASH drug. Sooner or later BP will be chasing SGMT for huge potential.

wi5hbone

i think i just bought the share you lost back then, yesterday, from BP

Aigpil

the BTC on the 150 calls makes sense, the cap at 150 was the conflict with your 2-4x conviction. the new puts are where it gets messy though. 27 months out at 30 dollars premium is slow theta tbh, around 1.10 per contract per month. that math only works if you sit through it. if ASTS recovers fast and runs to 100 by mid 2026, you watch a 70 strike put trade at 5 dollars while you sit on locked BP for another 18 months. you can't easily re-strike higher on a 27 month position. 90-180 day rolls let you ladder instead. if ASTS recovers, you sell the next 70 cycle at lower premium but reset and free up BP. if it drops, you close losers shorter and reassess instead of carrying years of mark-to-market pain. 5 contracts at this size is also concentrated for an account that wants to redeploy capital, 3 with rolls preserves more flexibility.

godlessLlama

Actually it’s a test of different strategies regarding the Greeks, the 450 is the highest conviction and if I had the BP at the time I would have just bought 2 of those. The others were bought when that’s all that I could afford to lose and as a learning opportunity. Greeks fully taken into account

godlessLlama

The issues actually lies with how much BP I had at the time of purchase. These buys were spread out over ~2 weeks (I get paid weekly) so it was just what I could do at the moment, otherwise I would have just piled all into the 450 strike I understand the Greeks well enough to make find good plays though! But I will also say I chose the 3 different dates and strikes as a learning opportunity as well so thank you for your input!

version-two

Oh shit chevron is tomorrow morning premarket… fuck, I think someone else is Monday. Exxon or idk I’ll find out.. but I may buy some shares right now. BP smoked earnings I believe. Earlier this week. Can’t imagine we don’t see the same

Wowmuchrya

BP already reported. Cvx xom and cop will all report the same if not more. Stocks already went up after Bp by 4%.

TomatoSpecialist6879

Both you and your gf's boyfriend is right, majority of US' oil supply comes from buying and swapping with Canada so we indeed do not get affected by supply. Big oil is using the physical market bid price to set energy prices in non-affected countries, that way they can make a profit while offsetting the losses they incur from oversea operations that are getting heavily hit by the strait closing. BP doubling their revenue in Q1 is basically just a preview, all the big oil companies are going to report record profits from taking advantage of crude oil prices.

ChairmanMeow1986

So it's more complicated than this, but basically favorable skew just refers to the options market is mis-pricing the likely direction of the move, i.e. giving you cheap exposure to the more probable outcome. For instance a sharp quick drop in price (like ASTS falling 17% in 5 days) is going to make ATM or ITM puts expensive to buy and OTM calls cheap to buy. In other words it makes the buy to close on 2028 150$ LEAPS cheap to buy-to-close (buying back the CC's they sold) and ATM/ITM Puts lucrative to sell. This is Volatility skew is the key to understanding how Vega works with the other Greeks. A more complicated way to look at it is the difference between the implied volatility levels of OTM/ATM/ITM) options. It measures the implied volatility level for each option strike price with the same expiration month, and the resultant line drawn among these points is referred to as the "skew curve" or "volatility surface." It is the IV (implied volatility) along different strikes, commonly referred to as Smile/Smirk. For me it's not something I chart or try and plug into an algorithm, it's just the understanding how the concept effects options pricing. It's important to understand for selecting Strike (ITM/ATM/OTM) and DTE. A a common mistake is IV crush after earnings, because binary events, moves from OTM to ITM (and the reverse), and sharp rallies/drops create high near term volatility for a contracts pricing. So try to look at where on the volatility surface you are buying/selling for when is the best I can do. Best I can put it is favorable skew is really the options pricing and dealer mechanics are tilted in your favor or you've identified an area of support or resistance. Key levels, important gamma flip zones, or just where you'd be willing to buy and hold or sell shares (if selling contracts). I would add that the main issue I take with OP's plan is that if you sell naked than you can get margin called at the worst possible times if you don't understand BP (buying power) requirements and the possible concentration risk to the entire portfolio. I'm bullish on ASTS and space as well and to me seems like a solid move, although I'd probably be selling shorter-term OTM's ready to cut before it moved ITM.

ThetaEdgeHQ

papakong88 covered the BP math correctly. The framing I would add is on the path risk, not the endpoint risk. You are happy to be assigned at 70 but the path to expiration on a 27 month put involves meaningful unrealized swings. If ASTS pulls back another 30 percent before recovering, your share value drops 20K and the 5 puts mark up by roughly the same as the IV expansion. Net unrealized swing of 30 to 40K against you on a position you would call winning at expiration. Margin stress means whether your account math allows you to hold through that, not whether you eventually get assigned. The other thing worth modeling before you sell is the IV regime you are entering at. ASTS Jan 2028 70 put IV is probably in the 60 to 80 range right now, which is high but appropriate for the realized vol. If ASTS settles into a calmer range over the next 12 months, IV compression alone gives you most of the credit back without the stock having to do anything specific. That is the structural tailwind for selling long dated puts on stocks where IV is currently elevated. The headwind is the opposite path, where realized vol stays high and the put mark expands faster than theta brings it down. Selling fewer contracts (3 instead of 5) is the cleanest way to keep BP utilization low enough that a 30 percent drawdown still leaves you with cushion.

papakong88

My comment assumes you do not have the calls. Your BP is only 24.5K with the covered calls and still sufficient to sell 5 puts (but I would only sell 2 or 3.)

WestBrink

What do you want BP to do about that? I guarantee they are pumping every single barrel they possibly can right now, doing their absolute damnedest to drive that price down.

werdnaztluhcs

Fixed BP pipe from tank farm to wharf and found they had a major leak that was spilling into the ground probably contaminating the ocean but got told to keep it on the downlow - fuck BP and there management.

godlessLlama

I was considering selling and piling in on a pullback after earnings but, I can take a huge hit on this and be fine for a while and make it our green. Will be building the BP for the next pullback to pile in. MSFT is still over 20% off ATH so leaps are on my list regardless of earnings

New-IncognitoWindow

People never started going to BP after the Gulf Spill. Pumps are always empty and every station attached is a liquor store.

Far-Operation-1580

I fucking hate BP. Scam company that scammed Irans oil for almost 100 years keeping most profits for themselves. Now they profiting even more from Iran

Butt_Stuff_Profile

Cool. HOWEVER, like I already stated....I paid $6.45/gal yesterday. BP has doubled their profits. If I have to pay more due to less supply, then BP should profit less. Am I taking crazy pills? You can talk business "judo" all you want. We are being gouged.

teddykaygeebee

Awesome job, BP. Everything is collapsing but at least you doubled your pprofits. They did it, everybody! Rejoice!! /s

Butt_Stuff_Profile

If I pay $6.45 a gallon and BP doubles their profits, someone is lying.

Ahamadrayasbaboon

A lot of people in this thread likely have no positions in BP, or anything.   I have no BP position, but I buy enough of everything else to know how a bid/ask market works. 

thetaFAANG

based BP: extracts oil at maximum profit from Iran democratically elected Head of State attempts to negotiate a bigger share of extraction BP says no to all Iran Democratically passes nationalization legislation BP gets British and US intelligence agencies to overthrow democratically elected leader and government of Iran BP gets more profits again Puppet government gets overthrown by hardline religious sect and subjugates everyone until now US finally attempts to overthrow Iran and this raises oil prices by 100% BP profits from global price gouging

WestBrink

What the actual fuck is happening in the BP thread? Since when is WSB opposed to companies making money? Fuck supply and demand I guess

Equivalent_Net_3752

The Gulf of “America” has been looking a little too clear recently. Thank god BP now has even more capital to rectify that.

WestBrink

I missed the part where BP was an OPEC member nation, good point.

S4T4NSDADDY

We have union guys being locked out at BP Amaco Refinery in Whiting IN cause they wanna cut 200 union jobs and slash pay for all existing jobs by about 6-7$ per job classification. They’re currently paying SCABS $127 an hour to show up n do the same work those guys were doing. When I say fuck BP I mean fuck all of the management for that company fuck the whole negotiating team and fuck all the scabs that are crossing that line

HotChicksPlayingBass

There’s a reason the BP (ButtPlug) logo looks like an anus.

Pitiful_Bedroom_6619

what happened to BP only up .8%

Totallycomputername

BP. Bitch please 

wmzula

Bers are gonna eat real soon. We are too euphoric. The sign for the top is when BP says they gonna diversify into AI...

Ok_Patient_2646

I see no one talk about Chevron or Exxon mobile. BP has their earnings and it was rlly good

lionkevin713

BP doubled profits since Iran war, in other words - “oil shortage” was just an excuse to price gouge lmao

Plane-Try-6522

Yes but also this is what I was saying: businesses and consumers are paying for higher prices for crude and crude derivatives. This is where BP's profits are coming from. And if businesses are paying higher prices and unable to pass these cost, then margins are likely to be squeeze which will be reflected in certain sectors and most likely in Q2 earnings.

mahend72

Strong numbers, but the context matters. BP didn’t suddenly become more efficient .. geopolitics lifted oil and gas prices. That kind of boost is fragile and can reverse quickly.

McKoijion

In a world of ceaseless volatility, it's nice to know some things never change. > BP profits more than double, beating expectations as Iran war boosts oil prices https://www.cnbc.com/2026/04/28/bp-q1-earnings-oil-energy.html > BP's origins date back to the founding of the Anglo-Persian Oil Company in 1909, established as a subsidiary of the Burmah Oil Company to exploit oil discoveries in Iran. In 1935, it became the Anglo-Iranian Oil Company and in 1954, adopted the name British Petroleum. https://en.wikipedia.org/wiki/BP

Provolone-Jones

I just want to make sure someone checks on him. His BP has to be way too high

No_Economist3815

Guys, I got $400 in BP. Need to turn it into $40,000, pronto. Thought?

papakong88

It depends on your strategy. Assuming you have a margin account with 100% stock. You will have 70% of the account value as buying power (BP) to sell options. Assuming you are selling naked OTM put options. The collateral required is usually 10 to 20% of the notional value. If it becomes ITM, the collateral required can increase to 40%. In the meantime, your account value is also dropping. Do you have enough BP to handle the increased collateral? If you know the answer to this question, then you will know your option/stock split.

Capta1n_Sully

You mean like Shell or BP? Astra Zeneca?

Cold_Ball_7670

Hey random I just found this thread days later lol - in respect to your former job and the adjacency to the oil and gas industry and the BP disaster- not saying it was predictable but wasn’t it sort of known the well inspections were not up to standard and therefore this was possible 

Bluebird-9641

Percent or BP?

Iamhappilyconfused

Guys guys I have an idea, oil and water don't mix right? So just dump all the oil in the gulf, and scoop it up at the Indian ocean. Problem fixed! We can even get BP to help us, they have prior experience with this sort of thing.

NoWeb2576

VM are BP puts are wise move considering uncertainty with Iran?

TheoryInttro

If everything pumps on the TACO OSEBX and OBX should tank. But if oil spot market doesn't buy the TACO, OBX is dominated by the oil giant Equinor (16%) and Aker BP (6%) so if Brent oil makes any sudden moves OBX could get spicy. In either direction.

bbmiscOG

What do you mean by 20 BP?

sac02052

200%. For a while I worked adjacent to the oil&gas industry and tried to pick individual stocks (XOM, BP, Chevron, etc.) . BP looked great, then the deepwater hoizon disaster hit and they tanked. You just can't predict which individual stock will have a disaster or miss expectations. From that point on it's been almost all ETFs for me.

papakong88

Let’s look at a 696/694 for tomorrow. You can sell it for 0.12. The 696 has a delta of 0.10. Now look at the 6985 strike of SPX which has a delta of 0.10 also. We can sell the 6985/6965 put spread for 1.075. Each PS will require 20 of BP. If we sell 10 SPY, we need 20 in BP and get 1.20. Or 120.  Assuming we pay 1.00 in fees per PS, the net is 110 for 10 SPY PS and 106.50 for 1 SPX PS. We could get more with 10 SPY but I would go with SPX for lower tax and cash settlement. (Note: I trade NDX instead of QQQ for these reasons.)

OptionsProOfficial

Yeah it’s annoying, but it’s basically them treating XSP/SPX calendars as “nice until they’re not.” If your net liq is under their new 15k/25k line they just flip the short leg to naked margin and nuke your BP, which is why people woke up to surprise calls. I’d assume any broker-level margin “benefit” on index spreads can disappear like this and size/calendar across brokers instead of building your whole strategy on one shop’s house rules.

PatentedSheep

That’s why I filled up a couple 55 gallon drums at the BP

sport912x

Do not do this at RH. First off they only allow Naked Puts as Csp and do not allow Naked Calls. Actually if a company is automatically paying you interest on idle Cash they probably are not an Option place. Fidelity will tell you they are but they cannot even figure out the BP which often results making everything a Csp. I know IB (hate the interface), Tos and Tasty all offer Naked selling. Tasty is the only place I have heard that will approve you for Selling Naked , by checking a box. The others have rules , mostly written by lawyers not traders. Sgov, Bil, Tbil, gets 75% Face at Tasty and IB (?), but only 70% face at Tos.

sport912x

You are confused. Selling a Naked Put in a Margin Account, approved for selling does not mean you do not have the cash available to take assignment, it just means you are only using 20% of the strike as BP . For example if you sell a 200 Strike Put you have to have 20k as a CSP , but in a margin account (approved for selling naked Puts) you would use under 4k Buying Power , which might be cash, or something like Sgov earning you a little interest.

sport912x

Cash nope. Why would you do that? The interest rate is about 4% and may be going up. So why ever do a CSP at least in a Margin account. Get approved for Selling Options . Keep the cash in something liquid like Sgov, Bill, Tbil, and get 75% Buying Power, or 98% for treasuries. For 2k-5k you can sell Options on Amzn, Appl,Googl, Coin,Bidu, Nvda , 8/9k Spy. I am talking 20 delta put , call or both . Of course if you have a thing and want to tie up your money in a stock with assignment, Sgov .. treasuries turn to cash with a click. If you think BP is Margin you have been misled. Watch these vids from the founders of Tos and Tasty. [https://www.tastylive.com/shows/best-practices/episodes/buying-power-reduction-01-26-2015](https://www.tastylive.com/shows/best-practices/episodes/buying-power-reduction-01-26-2015) [https://ontt.tv/3jAf4Ba](https://ontt.tv/3jAf4Ba) Buying Power Factors Oct 28, 2020 STOCKLESS TRADING [https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020](https://www.tastylive.com/shows/tasty-extras/episodes/a-refresher-on-bpr-06-29-2020)