BP

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)

demi9od

This. Looks like about 20 short calls worth of BP. He might not even be down at all depending on when he sold them.

voodoo-ish

Hey... I know we do. But good luck wasting your time going that granular just to find out if that backs or not a claim and where are already safe decision paths and investment decisions to take that we have learnt from past crises. This is just another one of many. Like I told him, that's for the likes of journalists or political economists. Digging to see **how much of UAE oil is going into Tupperware sales on Amazon** to decide whether or not I should sell my Brent or BP papers is just......... Unusual to me. Even if I were to sell Tupperware, Whole Foods or whatever (not into retail, so don't know if these are actual stocks), it just seems like a wasted effort. This is why we research *before* we start investing in a specific area, not DURING a crisis. Studying for investing is different than fact-checking or learning something new. You get ideas of where to go in scenarios X, Y or Z, but you don't reach the nitty-gritty depths of databases of every drill out there. It's nuts. Especially now with AI-driven research. You study hard before you decide to go on big oil, and that's it.

voodoo-ish

Hi, Mars. How's it going? I appreciate you asking me my take on this. I do have. I tend to have a lot of takes and opinions on the oil industry hahahaha guess I'm one of the few people who aren't ashamed of saying they're very interested in the market and invest heavy in it (I still believe in oil for several reasons, but we can get to it later). And you were spot on. We *are* all talking about slightly different things, and it drives me absolutely mental when I see the financial press bleeding these concepts together. You have to mentally separate the *catalyst* from the *affected actor t*o navigate this space without losing your shirt. There are macro geopolitical events (Hormuz closing, sanctions), consumer trends (EV transitions), and company-specific facts (mergers, refinery outages). But a headline about "oil prices surging" affects an upstream driller, a downstream refinery, and a shipping logistics firm in completely different ways. The news rarely isolates these phenomena, but as investors, we absolutely must. Now, regarding that massive disconnect you noticed... You aren't going mad; it *is* wild, but there is a structural explanation for it. In commodities, what you’re looking at is an extreme state of *backwardation.* The *spot price* at $150 is the physical market. It measures immediate, visceral desperation. It reflects the exact logistical capacity, shipping bottlenecks, and supply chain constraints of getting a literal, physical barrel of oil to a buyer *today.* Now, the futures price at a $110 is the paper market. Futures are essentially the market trying to measure the "temperature" of where things will settle. At $110, the market is pricing in the probability that either the geopolitical crisis will be resolved within weeks, or that $150 oil will trigger severe "demand destruction" (meaning the price gets so high that factories shut down and consumers stop driving, inevitably crashing the price back down). I believe this is the reflection of the current talks being carried in Lebanon and about Iran. These Middle East wars/crises nowadays tend to be short AF. To quote Kristen Wiig: "This is the 90's. It's civil rights". To use an economic analogy, it's a bit like looking at inflation versus base rates. Spot prices show you what things actually cost right now on the high street; the base rate (futures) is the lever anticipating where the economy is heading next. As a medium-to-long-term investor, this is exactly why I am highly critical of playing the futures market based on geopolitics. From a pure data science and statistical modelling perspective, trying to predict futures right now is deeply flawed. You cannot build a robust statistical model on the unpredictable psychology of global leaders. It creates a massive feedback loop—or "reflexivity"—where the market is just pricing its own panic. I’d happily use futures to model something with quantifiable variables—like the environmental cleanup timeline of a pipeline leak, or something like the BP Deepwater Horizon spill, where we have hard data on rig sizes and current water flows. But playing futures on Middle Eastern geopolitics? That’s basically playing roulette. When I studied the Gulf War oil spikes, it was a classic trap. Everyone celebrated when the Western coalition stepped in, and paper markets priced in a swift victory, dropping the price of crude. What they *didn't* model was Saddam Hussein maliciously setting the Kuwaiti oil fields ablaze as he retreated, destroying the infrastructure for years. I leave the short-term speculation to the day traders. I’m much more interested in the physical infrastructure, geography, and proven reserves of the companies I back. Brilliant question, by the way. It sounds like you're doing some serious academic-level digging into market mechanics. Are you studying economics, or just a deeply curious retail investor? I’m always keen to chat about energy markets—feel free to drop me a DM or we can connect on Discord if you ever want to bounce ideas around. Cheers!

frogboyjr

Most brokers let you sell calls? The BP requirements are usually quite high though

live4failure

I have a 90% win rate this month. Perfect win streak all month until last week and I didn't use a stop loss and blew 30% of my account. Since last week I am back up to even but sold calls or puts too early and missed out on like 2000%-4000% gains on various stocks. Im all cash exhausting full BP everyday, usually 5-10% of account per trade. I probably could give you the approximate dollar amount for some hard learned lessons. Legit lost $1k from no stop loss in 3 trades, Im sick but my rules are becoming engrained in me now.

PimpCforlife

BP is the gayest company ever. up the whole year, then i buy calls and it starts going down. fucking redcoats

NckyDC

They are terrorists because Churchill made a coup against the democracy that wanted to give the oil to the poeple but Churchill (and the amercians) thought otherwise and instyalled their regime so they could control the oil with BP. History man... History

_Fibbles_

BP? Shell? Never heard of them. And what even are the North Sea oil fields anyway?

Wolfreak76

Fuck yes! During the BP Horizon disaster I was thinking something similar - just let the oil pour into the gulf and harvest it from the surface, and also BP could bill people for whatever amount of BP's oil landed on people's shorelines.

Mug_of_coffee

> Also the broker should show BP as you create the trade (Tasty , Tos do this, and I think IB Yes, IBKR too.

Traditional-Koala927

It backfires if you're sick. But the daughter of a rockstar and the heiress to Shell Mex and BP wrote that.

GoodIntroduction6344

Yeah, but what was it before taking BP medication?

Investingforlife

BP

Icy_Jelly_315

Um, yes? My BP is up 17% on the month

papakong88

You are right. I used more BP but I don't think the risk is increased.. I sold only 2 X 25HTE 23000 PS and at 8:35 I sold 28X23060. I added a lot of 30 Junk in the afternoon. I normally don’t do that. This is extra BP but I have more than one lot that is deader than a doornail. I used extra BP but I don’t consider it as extra risk.

Academic_Banana_5659

Ironically BP

kaapooj

>An aviation notice issued Saturday said that “due to limited fuel availability from Air BP Italia, refueling services for operators contractually linked to Air BP Italia may be subject to restrictions.” The affected airports are Bologna, Milan Linate, Treviso and Venice. https://www.politico.eu/article/italy-airport-jet-fuel-restriction/

Investingforlife

Yeah, partly (BP).

papakong88

The option price at any time incorporates all the effects of the Greeks. The EM reflects the expected move of the market at that time so we must use the current EM. As you have noticed, EM decreases so what you sold when the EM is high will have a higher OTM. For the 25HTE, you must use the next day’s EM. (If you sell on Friday, you must use Monday’s EM.) The reserve is used to generate income to lower the cost of an exit. If it is judged that an exit is unlikely, then the reserve BP can be used to sell junk. You can sell junk at any time. I want to sell them before 10 CT because I have to go to the gym. Junks are like the icing on the cake. The only criteria is that you must feel good (and safe). My regular price for a PS is 1.00 and 30 cents for CS. Junks are 0.50 and 0.20 or less. I have sold junks for 10 cents as late as 2 pm CT.

sailortyx56

BP Italia has warned airlines at four Italian airports that it may be forced to ration its jet fuel supply due to shortages caused by the Iran War. Ambulance flights, state flights, and flights lasting more than three hours will be prioritized until at least April 9th. [](https://x.com/Osinttechnical/status/2040537135338406113/photo/1) [Link](https://www.ansa.it/sito/notizie/economia/2026/04/04/allarme-carburante-sui-voli-restrizioni-in-4-scali-italiani_f17f98ae-bc4c-4016-9d4c-3db14f4031c8.html) Shit is gonna get crazy by the end of April.

0o0o0o0o0o0z

NAE man! You must be unAmerican -- we can totally do this, we are the best, of the best, of the best... look what we did in Iraq!!!! Look, it only took us 20 years to lose Afghanistan with no materiel change... It's not like our action literally birthed ISIS... I mean, for sure, all these problems can be traced back to a US-led coup for BP and other oil interests to overthrow the democratically elected Iranian government and install a west-boot-licking Shaw, right...?

wrongrobertpatrick

I bought 300 shares of BP on Friday

Mediocre_Pangolin572

On Monday morning my BP calls will go to the moon and I will finally leave this subreddit.

Academic_Banana_5659

I mean these companies somewhat create the future by themselves by forward thinking and investing anyway so it is a self fulfilling gamble I guess. A safe bet. Even so as I said BP were well positioned no matter the scenario. They evolved themselves from an oil company to an energy company.

wrongrobertpatrick

I loaded up on NTR, IPI, CF, OXY, BP, SHEL, BPR, VG

papakong88

You will not have a margin call in case of a market meltdown due to this strategy. However, you can have one if you do not use margin correctly. My margin requirement is predetermined and will not change no matter what the market condition is. However, the available collateral (or BP) changes. Therefore, if we have enough BP for our worst case, then we will never have a margin call. This concept is not unique. The golden rule for trading is to use only a portion of your account. The rest is your fat for the cold days. I have plenty of fat from profit to cover a max loss.

Academic_Banana_5659

Not 100% He said BP had a 50 year plan for oil and what they were going to do if oil struggles to survive, they were going to invest in "limited oil dependent energy production" wind farms, solar, hybrid energy, sea energy, nuclear energy, biomass energy etc. If Oil didn't become obsolete then they would go for lubrication, Oil recycling, oil reprocessing, plastic recycling and reprocessing. Then if things get really bad and oils dies completely (unlikely) Alternative fuels, alternative materials, battery development, Etc It was a really intriguing lecture. How these companies have the future panned out. If America has an obesity crisis, chances are companies have already prepared for it because innovation takes potentially decades so you have to be decades ahead to strike to first blow.

uncleBu

Is it literally impossible for you to get margin called on the worst series of events imaginable given the scenario you are painting? From what I am reading, it seems that there is heavy correlation in your trading stages, so even if you deem the risk to be "low" you might get nicked twice on 2/3 of your BP, which will already put you in margin call territory if you are using any leverage whatsoever. If that is the case then my point above stands, long term view is not what happens in two years, but what would happen in the worst case scenario that we know will happen at some point. And yes, I do trade like the world is always going to collapse, mostly because I know that at some point it will, like the other times that it happened.

papakong88

Both days were about a 300 point rise in about 10 minutes. Note that currently the EM is very high. It is about 180 in the first hour. ICs sold during this time should at least be 500 points OTM, so they should be ok. My exit strategy is to prepare for exit when OTM becomes less than 80 and close if it is less than 50. Then reopen the position later (if conditions are favorable) and to sell another one with the reserve BP. This will reduce the loss. My options were never less than 80 in OTM (see my post below).

papakong88

I reserve part of my BP for use in lessening the impact of a bad situation. For example, when I have to close out a position for a loss. I can establish another position(s) with the freed up BP and the reserve BP. During the day, if I judge that my positions are safe and the reserve is not needed, I would sell ”Junk” with the reserve. I call them Junk because they have no value.

Kbarbs4421

I wrote itm covered calls against a portion of my BP position, with a Sept expiration date.

papakong88

These are my transactions last Thursday. Spreads are 100 points wide. Total gain = 24,800. Required BP = 1.8 M. One of my best days this year. |Time|Short strike|Strategy||Premium|Status| |:-|:-|:-|:-|:-|:-| |3:15 Wed|24825|25HTE|Call|0.30|Expired| |3:15 Wed|23000|25HTE|Put|1.00|Expired| |8:35|23060|0DTE|Put|1.00|Expired| |9:10|23030|0DTE|Put|1.00|Expired| |9:15|24390|0DTE|Call|0.30|Expired| |9:33|24475|Junk|Call|0.25|Expired| |9:48|23080|Junk|Put|0.50|Expired| |1:13|23600|Junk|Put|0.60|Expired| |1:22|24240|Junk|Call|0.25|Expired|

Total_Schedule591

BP joined the chat

Academic_Banana_5659

I was at a university lecture from a BP representative and they pretty much said oil will never run out because innovation will outpace it's consumption. We don't recycle oil effectively because we don't need to ...but if we did then ... He also said oil will continue to be sold in smaller quantities at higher costs for lubrication purposes and previously financially unviable oil fields will be drilled when the price increases to a rate which justifys the cost. Interesting that the best time to drill for oil is when it's at its cheapest but that's not the right time to sell oil. Hence why all these oil producing countries are limiting production whilst costs are high and getting rid of stock.

MooseLipps

Don't forget the massive Equinor/BP "Bay Du Nord" offshore oil project that Newfoundland is looking to move forward asap... https://www.gov.nl.ca/releases/2026/exec/0303n05/ Pretty good chance that Kraken will be involved in that and its a multi decade and multi billion dollar project. Of course nothing is guaranteed but Kraken has so many tailwinds like oil exploration and defence (including Anduril as a customer) along with massive expansion of their battery plants and acquisition of the Covelya Group... the growth potential is just insane.

ARSC_RexH

still think buying XOM and BP calls was the right choice but wish I had waited until now to do so instead of 45 minutes ago.

Mediocre_Pangolin572

My BP calls were completely fucked and now they are printing holy Jesus resurrected them from the dead.

Legitimate-Fig-21

It took 4 days from start to finish. You also left out the “why” because BP, Standard Oil of New Jersey (now ExxonMobil), Standard Oil of California (Chevron), Socony-Vacuum (Mobil), Gulf Oil, and Texaco did not want Iran to nationalize their oil.

Stock_Cost5631

Venture Global (VG), the second biggest US energy company specialised in LNG that will surpass Cherniere within 2-4 years.The comoany faced some lawsuit due to prioritising selling LNG on spot market instead of long-term customers, when the plaquemines weren’t ready. The companies suing either lost or settled with exception to BP. Anyways the 2026 should be good and the company is almost ready with these cases. Before the company listed in 2025 the IPO price was initially estimated to be around 40-50USD, due to the lawsuit the IPO was 25 USD. It has dropped more then but is now recovering well

wrongrobertpatrick

Full ported today: OXY, BP, SHEL, PBR, DVN, VG, NEXT, BATL, TALO

wrongrobertpatrick

They are gonna dump and funnel back into USO, OXY, VLO, CVX, BP, SHEL

Ash_Skiller

first off, take a breath. you just started meds and they need a few weeks to really kick in. the fact that you're already monitoring at home and logging is huge, docs love that data. focus on one lifestyle change at a time, dont try to overhaul everything overnight or you'll burn out. once things stabilize some people layer in BP360 from BloodPressureSupport. com alongside their regimen.

sport912x

Nope and that is the rub. It was assigned the day BEFORE. So you are selling your Sgov on T+1. So when it is Posted at say 4am it is already T+1 and your Sgov is not cash that day. Your Sgov sale at 7am will not be T+1 until the next day . This is happening now since everyone selling options knows they can use the Sgov as BP and still get interest. 10 years ago most of us just kept the cash as cash since interest was so low. My cash in my margin account is usually under 1k while well over 100k of BP.

papakong88

When you sell CSP, Fidelity requires you to have a cash equivalent as collateral. (assuming you are approved for CSP only.) Cash equivalents are cash, money market funds, T-bonds of less than 1 year in maturity. Money market funds used as collateral will earn interest. When you sell naked puts, you can use buying power as collateral. Most of your securities have BP. For example, SGOV has 70%, money market has 100% and Treasuries of less than 1 year have 97%. Money market funds used as collateral will not earn interest.  When you have a margin account, you can buy securities with a loan from your broker.  Say you want to buy $1000 of XYZ. You will find from the website that there is an initial margin requirement of 50% and maintenance requirement of 30%. (This is typical. Some stocks are higher.) That means you must have 50% or $500 of BP as collateral to buy. After purchase, the collateral is reduced to 30% or $300. The difference between what you owe and the BP is a loan. For Treasurys, the initial requirement is 10% and the maintenance is 3%. That means you can buy it with 10% but you will have a huge loan. I use Treasuries in my account instead of keeping SPAXX. SPAXX will not earn interest if it is used as collateral to trade options.

False_Mulberry8601

I bought BP in September 2021 at 310p (currently 606p) and it gives me a 9% yield!! I'm selling on 6 April (new tax year) as I have some very expensive art to buy!!

Curious-Visual4525

I have equinor and Aker BP 40/40% and the rest 20% is in equinox gold. Not sure what to buy in 1-4 weeks i don't want to hold the oil for to long really.

creemeeseason

Sold the last of my April Hormuz hedges (BP), getting closer to expiration and downside risk is rising there. Still have May LYB calls, which I think is cheap regardless of the strait status. Might grab June ADM or LNG if they sell off some.

Personal_Repair_3579

Checked out BP in a cash flow tool out of curiosity . FCF yield is solid at \~8.9%, but they're paying out 85% of it to shareholders. Leaves almost nothing for debt or reinvestment. Margins are also lagging peers across the board. The whole thesis basically needs oil to cooperate. If Brent softens, that payout ratio gets uncomfortable fast. At 70% up I'd probably trim a bit tbh. Not a disaster, just not cheap anymore.

sport912x

I know and have done it from time to time, and if things get squirrel it is an option. Just prefer the ease of going from Sgov to cash right on the platform. Anyhow I am no where neat my BP at any point, so for now do not bother. I have not been assigned since 2010 , but recently I found out that assignment is a problem in a no cash account like mine. Assignment takes place that night after the close and that is T+0, so by the time it is posted to your account it is T+1 and even selling your Sgov at that moment you still will have one day of interest. Back in 2010 everything was cash since interest was so tiny. It took an hour to find someone on the trade desk to explain this, the guy before this was trying to tell me that assignment took place the instance the other user exercised on the platform (yes if at 10am then you were assigned). So beware of what moron picks up the phone at Schwab.

MortgageRegular2509

Exxon, BP, Chevron, Shell… I know these names better than I know my own grandmother’s

Any_Jicama5208

I'd care less about being up 70% and more about what BP earns if oil cools off. If you'd still want the stock with Brent back in the 70s, hold it. If the thesis really needs hot oil + buybacks, trimming here is reasonable.

sport912x

The info is good, but if you think it will help you trade you are wrong. It was written during Open Outcry , and basically it was about Options on Futures. Written way before the current wave of customers being able to create their own trades. Will have nothing about Option Buying Power , since his audience was brokers on the floor, and they had unlimited BP (until caught at the end of the day).

Wooshsplash

BP.LSE. Bought at 495, currently 608. This is an interesting one. Setting an alert for 700 and, possibly, dumping at that price or holding for long-term. Undecided. Though right now this is compensating for my MU, which is driving me nuts.

ExpressMud8038

I got rejected for an internship at BP last month.

papakong88

Using SGOV is smart because the value does not change much. If you do a lot of option trading, it is better to have T-bills where the value does not change much but the BP is around 97%.

papakong88

You want to sell 1 naked MSFT put. Your broker will require collateral (commonly called the margin). Your broker will not loan you money for collateral so you will not pay any interest. However, you can use stocks as collateral. Assuming your account is at Schwab. Your 258 shares of MSFT is worth 92K and 70% of it (called the buying power) can be used as collateral. Let’s say you want to sell a 340 put, the collateral required is around 5K. The collateral changes based on the stock price and option price. If the stock price drops to 340, the collateral becomes around 7K or more. If the put is assigned, then you must pay for it from your own money supplemented by a loan if necessary. Then you pay 11% (annual rate) in margin interest. You have the BP to sell 1 naked put and enough to meet the additional collateral if the stock price drops. Go for it!

Affectionate_Age752

The Saudis funded 9/11, not Iran. The USA is completely to blame for the regime in Iran, after they backed a POS for decades, they installed after a CIA backed coup against a democratically elected leader, who wanted to see BP's accounting for the oil they were taking. Abs BP didn't like that.

schilleger0420

Doesn't make enough money. If Exxon or BP could make more putting up wind farms and solar panels you'd see fields of them.

Mr_ThrowAwayJohnson

Bruhhhh, why on a Friday during work hours. Decent spot though next to BP.

Brokenandburnt

They haven't had any local friends or allies since 1979. Quick recap for you. Early 1900's western powers takes over and starts extracting oil. 1950 a democratically elected leader looked at how much BP was raking in, looked at how poor Iran was since they got fuck all, and nationalized the Oil industry. The US and UK of course got pissy, instigated a coup in '53 that placed the Sha in power, and then kept supplying him with weapons. The Sha ruled until '78, badly. A pisspoor economy brought the clergy into power and revolution happened. The west once again got pissy and sanctioned the everliving _shit_ out of Iran, and those sanctions has been in place since then. Obama in 2015 fixed a deal that limited Iran's nuclear program, and allowed inspectors from IAEA to enter the country in exchange for sanctions relief. The Ayatollah proclaimed a fatwah against nukes as well. Deal entered into effect 2016, Iran kept their part of the treaty without issues. In 2018 Trump killed that deal and sanctioned Iran even __worse_. Iran US was in negotiations. Israel started the 12 day war and the US flew in and bombed some underground facilities that Israel couldn't. Earlier this year Iran _again_ entered negotiations with the US. Israel and the US started bombing them to hell and back. Israel also sent a decapitation strike, killing the old Ayatollah and a fuckload other high ranking dudes. Old Ayatollah was an asshole, no doubt, but he was what passes for a moderate in Iran. His fatwah has kept Iran from making any nukes, and he really wanted to negotiate a new deal. The strike put(probably) his hardliner son in charge. A son that just lost his mother, father, sister, wife and a son in that strike. I'm just guessing here, but I don't think that made him less of a hardliner. Iran's regime were assholes that sponsored terrorists and kinda oppressed their own people. But no doubt the west have fucked them over for some 100+ years.

expert-on-reddit

Ironically, Sharia law exists as the legal framework in Iran because the West deposed Iran’s democratically elected prime minister in 1953 for the crime of wanting to nationalize his country’s oil fields and maintain Persian control of the Anglo-Iranian oil company (which would once day become BP). But the historical truth is that women in Iran had full rights before women in America did. It was the 1960s before women could open a checking account in America. And a woman could not have a credit card in her name in the U.S. until 1974.

ChessPlayer1963

As someone who sells 0DTE spreads daily and who has followed u/papakong88 strategy for nearly a year -- this works but you need iron discipline. (eg) After days/weeks of steady profits there will be severe temptation to go to 2.5EM instead of 3EM to get more premium. You need to stick to the basic strategy -- greed will wipe out the account. Second I probably am the other referred to by papakong in closing vs rollout the strategy. There is severe luck involved when you rollout -- what I refer to as hopium. You are hoping it works out. To papakong's credit (or good fortune) it has worked out for him. You are hoping for a reversion to the mean to bail out the original loss and also hoping that using the extra BP to double down to reduce loss (in the very limited circumstances that papakong outlines in his strategy posts) worked out. What is not described is you can easily be massively underwater after the rollout. It hasn't hit papakong's rollout -- it is due to his skill but also heavily due to luck. He can probably withstand a full drawdown of 1/3 of his account/ avoid margin calls. Most of us can't. You would be moving from .02/0.03 delta to easily .5+ delta and EM from the safe 3xEM to **0.5EM to -1EM or worse** \-- \*for a third of your account\*. If you don't understand how this changes the risk profile, account balance -- you should not be trading 0DTE or any options for that matter. Most of us (the retail traders) can not handle this level of stress in our accounts and margin calls are likely. I have moved from always rolling out to sometimes taking a loss -- that is just the cost of doing business. To his great credit papakong has acknowledged this risk and added it to the strategy -- this is why I respect his comments/posts very highly. From his perspective -- he has not hit this scenario and it looks low probability. But it is a huge danger for this strategy. Proper sizing is key -- I now stick to .1 - .15 of account size at risk daily (papakong risks 1/3 account size daily). Your mileage may vary. This is a usually low risk/high reward strategy (90-95% of trading days) with severe tail risk (the 1 bad day can wipe out months of steady profit).

bullmarket2023

Not true, markets mostly have gone up because stocks are a great hedge against inflation as many companies increase prices more than increasing costs generating cash flows more than inflation. US has been a better place to invest because of less regulation and taxes and more business friendly growth than other markets. However look for value in all areas. I thought BP was way too cheap and loaded up in the $20's, not that I think British petroleum companies are more special than US companies, purely a value disconnect.

creemeeseason

I mean, my strategy isn't to go nuts. When the war broke out I sold some lower conviction names, trimmed a massive position, and bought calls on BP, CF, and ADM....and waited. Just raising cash. Sold those calls the first week, rebought BP, CF, and LYB last Monday when Trump tried to TACO. Used some of the cash to buy a lot of ELE last week. That said, I was already long energy to a degree. I've been positioned for higher inflation for longer for awhile now. Never panic.

chomerics

I’ve been opening up calls on Monday and selling Friday. BP calls are sub $1 so cheap money. So far I have been hitting 40%-150% weekly gains for small bets.

sport912x

That is Great. That is what traders do. Now at worst you will buy for cheaper. I think Csp is a lousy strat if you just want to trade options, why tie up your cash with some stupid stock. If you are doing this in a Margin account (not Ira) I suggest you look into doing Naked Selling. Not saying not having the cash to take assignment , just do not tie up the cash. I use Sgov or Treasuries. Most real brokers (Schwab, IB, Tasty) give you 75%(or close) on Sgov and 99% on Treasuries in Buying Power to Sell options, if approved for Selling. Think BP is margin you pay interest on ... Wrong. Here are some Tasty vids explaining it from the founder of Tos and Tasty. [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)

HoustonSker

BP has had a bad string of CEOs.  A bunch of horny British chaps

ranveerneemkar

Short answer: ownership usually doesn’t just vanish, but wartime sanctions, exchange closures, and asset freezes can make foreign securities untradeable, hard to value, or temporarily inaccessible. For what happens to international stocks/funds during a war, the legal wrapper matters a lot: * BP on NYSE: if the ADR/listing remains permitted, you still own it through your broker/custodian. The bigger risk is trading suspension, delisting, blocked dividend flows, or sanctions from OFAC/SEC actions. * VXUS/VTABX: you own shares of a US fund, not the underlying UK stocks/bonds directly. The fund can keep operating, but it may mark affected holdings down, halt creations/redemptions, fair-value stale prices, or side-pocket/segregate impaired assets depending on the structure. * Bonds can be messier than stocks because payment systems matter. Even if the bond legally exists, coupon/principal payments can be blocked by sanctions, capital controls, or settlement systems. Broker matters less than the jurisdiction/custody chain. A US broker is still subject to US sanctions rules, clearinghouse rules, and exchange actions. Historical analogs are Russian securities in 2022 and some Iran-related sanctions cases. OFAC, SEC, Vanguard/issuer prospectuses are the places I’d look first.

Shoddy-Usual1070

I didn't see any blood yet I have a long-term portfolio KO, MRK T BP WMB .Most were up today..

sport912x

If you have a margin account, approved for spreads, then your max BPR (buying power reduction) should be set on entry and NEVER CHANGE. If you try to sell the long leg a good broker will try and stop you , but only if you are not approved for Naked options, or you do not have enough BP even if approved for naked positions. I use Tos, and they do it the right way, and on the fly will combine the open options to give you the best BP. Once you hit the Position page you can click on the Symbol and see how they combine it by using Explain Margin, even before the trade is executed . If you set it up in the Analyze Page you will see the bp (for that moment) displayed. So I really do not follow what you mean that they are increasing your BPR on a defined risk (spread?) trade. This should only happen for naked options, which for sure can have sudden BP increases , as today shows. Basically Tasty works the same way (without the explain margin, which I guess they dropped). Maybe what you think is defined risk is not. I am thinking of a Spread (vertical) , but Tos and Tasty would handle a calendar the same way.

chomerics

Up 60% since March 1st. Only a few grand, and I play weekly oil options Monday morning and sell Fridays. Been focusing on BP calls, and I short TSLA this week because fuck Musk.

Ok-Armadillo-5634

They happen more than you would think although they are usually BP in my experience.

XorAndNot

Yeah, some BP, PBR

Valkyrie_Skuld

Is BP actually bad? They have dividends and they’re less expensive

Dudewheresmycard5

Ah ok, thanks for that so Shell would be down if shit hits the fan but BP might be up or hold steady? I had a look at Shell's chart and it held steady when all the energy infrastructure was hit on wednesday 18th

garlicroastedpotato

They're net buyers of crude oil because they have so much refining capacity. But BP has been offloading all of its refineries in the last few years and focusing on exploration so they're going to be less impacted because they buy less crude.

garlicroastedpotato

I would say Shell is more hooped than BP.

Dudewheresmycard5

How would UK stocks like Shell or BP be classified? Losers or winners in such as situation?

papakong88

I think OP has BP to cover his spread but the margin requirement was increased. Hence, he posted

KristianME

Many. Tech / software: Microsoft Adobe Salesforce ServiceNow Snowflake Datadog CrowdStrike Palo Alto Networks Industri / automotive BMW Siemens General Electric Honeywell Rolls-Royce Volkswagen Toyota 📡 Telekom AT&T Verizon Deutsche Telekom Energy Shell BP Chevron Equinor Finance: HSBC UBS Deutsche Bank Morgan Stanley Retail / consumer Walmart Costco Target Starbucks Coca-Cola Transport / logistics UPS FedEx

papakong88

For a credit spread, the risk is defined only if both legs are ITM. If only the short leg is ITM, you must have the BP to take the assignment and the required BP can be more than the defined risk value. Therefore, your broker can increase your margin or liquidate your short position.

sport912x

I guess I am too stupid to do that . I just use the Tso Analyze tab for ANY TRADE, and it just tells me the BP up front. I am not sure if this will work for PM clients, since I do not trade enough to ask for that. I know Tasty shows BP as you setup a trade. I am amazed some platforms do not do this.

ddogquickbite

My grandfather was executed by the regime after the shah. What people tend to forget and idk why is Iran had a democratically elected leader. Mossadegh. Guess what happened. He wanted to nationalize oil, BP and the western countries said no and staged a coup called operation Ajax. I skimmed over the path to Persia. Iran had a path but time after time the western countries LITERALLY f**k everything for corporate greed and power. So from the start Iran has a reason to absolutely hate the US. Even when the shah was in power near the end the western countries essentially brought in the ayatollah. All roads leads back to western involvement. Which is why they can never be trusted. The regime now is shit don’t get me wrong but they have no reason to lie. They have all of the leverage. I’m hoping this crumbles the US empire and restores balance as the US has been the bully far too long. Empires come and go, it’s the US’s turn and China will be the new empire. Give it 10 years.

lalyt93

Nobody worry bcuz Iran sent us a really great surprise some may even say the GREATEST surprise a person has ever received !! It’s sure to benefit every American ask your nearest BP agent how to clam your benefits

torokunai

BP used to be Anglo-Persian Oil Company

dMestra

Why don't they just dump the oil in the water and let it flow through the strait and we collect it after. We could let BP do it

Blarghnog

Yep.  The market is looking backwards and in fear. Trumps a wildcard but his energy policy hasn’t varied. It’s pretty clear.  I’ll throw this out there. This is, in my mind, increasingly a clear attempt to break the back of BP (shall we call it the “spiritual legacy of APOC”) and the British empire’s long history in Iranian fields and their 60+ percent insurance share, but that is a deeper conversation. Just look at the unprecedented move they made outright cancelling policies. The real issue is fiscal as well, and that is something I am watching closely. An "insolvent" US Treasury has zero room to play hero. In past cycles, the U.S. could use the SPR or fiscal stimulus to blunt the edge of an oil shock. Not this time. At least not like it has in the past. You’re right, I wouldn’t think it prudent to make long term bets for exactly your reasoning. Things could still change here, and that’s valid. My intend is simply to inject some different thinking, because I don’t share the doomer outlook at the moment. Smart comment. Appreciate it.

Feeling_Inside_1020

Trump is so easy to read: whatever he says, trust the opposite is true AT LEAST AT THIS GIVEN MOMENT. Trump is more bipolar than I am though, and I say that as someone diagnosed BP type 1.

MiVegaLoca

$27k BP reduction in one ES contract on TastyTrade. This is fucking ridiculous.

limestone2u

Just finished up moving all accounts to Schwab. The people at RBC were wonderful to deal with and transferred my account flawlessly as did the people at Stifle. Vanguard was a different matter. I would call and get different numbnuts on the phone who knew nothing, wasted my time and drove up my BP. Tried working with Vanguard 4 different times then gave up. Called my local Schwab office, they got the forms for me to sign together and two days later went up to their office and signed them. Schwab promised me money (completion of transfer) in 5 business days....it took 3 days. Should have let Schwab do it from the beginning with Vanguard. Originally went with Schwab after 2 years at Merrill Lynch. M/L had great research but absolute idiots assisting clients. Also they did not care for me since I was a small client. Been with Schwab now 20 years and they have not let me down. Schwab has me for life.

DYRTYDAVE

What are you talking about? Cagrisema is a disappointment and if you look at the data, Reta isn't even the real issue (more safety issues and less tolerability for more rapid WL is more likely to target a more niche market) -- it's Tirz, which remains just flat out better and more tolerable than anything else on the market. Your analysis also doesn't really take into account that oral agents like the wegovy pill will be outclassed from efficacy/tolerability perspective within a couple years (we have already seen first mover status means nothing in the face of better drugs). I actually agree NVO at these prices isn't a bad buy, but the market is looking forward and its pipeline is weak. Besides LLY, there are also several BP with incoming competition, and the most dangerous competitor to NVO in all likelihood is VKTX or whoever eventually acquires them (if NVO acquires them, then I would actually flip to very bullish).

sport912x

Most firms will let you use unsettled funds . Since I use Schwab I know they call it Margin Access and you get it if approved for Spread trading. This may vary depending on the firm. If you Sell something the cash shows in your account right away and is good for a new trade. However it is not cash for transferring out until T+1. I am not sure if you do this 2 or 3 times a day, how they will look on this. Once a day is fine. Also do you understand Buying Power which is not margin. Here is a Tasty vid on that by the founder of Tos and Tasty. Treasuries get almost 100% face BP, but Sgov stuff get 75% face depending on the broker. If you have 100k+ this may be something you want to consider, since the interest pays for lunch as we say. [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)

papakong88

Yes. It is a given that you must have reserve BP for contigencies.

gabrintx

I trade on my Portfolio Margin account. By my calculation I have $209k risk with a $99k settled cash balance. I could go deeper with a BP of 178k.

nedmorlef

We don't get 1 gallon of oil from Iran.... If you want to hate on somebody, write your local oil company. Call Exxon, Chevron, mobile and BP. Those are the people that are screwing you, not Donald Trump.

Full_Pear449

You can inform your broker that any security in your position is available to be lent out overnight (SLB). ALSO, the regular person generally discuss Basis Points, neither does the "Carry Trade" have any real significance to the regular person, except maybe as a conversational piece. Lastly BP's and Margin Trading are essentially different topics.