USO 8-1 reverse split party/group suicide

>he bought the dip?
>reverse split

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what does that mean for call options?

>buying oil etfs

I THOUGH IT WAS THE BOTTOM AAAAAAAAAAAAAAAA

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What does it mean for put options

I JUST WANTED A LONG TERM HOLD

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I've lost more money than I care to admit

I feel nothing, I am completely destroyed

Oil is literally worth negative dollars, and once the next months futures roll over your going to see the entire industry liquidate I cannot fathom it I am in complete shock right now

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N-NOOOOOOOO!!!! LITERALLY EVERYTHING RUNS ON OIL!IT HAS TO COME BACK! RIGHT?! RIIIIIIIGHT?!?!?

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I have a question
Any of you guys actually knowledgeable about commodity trading/oil ETFs or did you just FOMO in?
Not trying to shit on you, I know next to nothing about oil prices so I stayed well away from it

i bought UCO

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They adjust according to the change in share price

a lot of oil fields are pressurized, meaning they physically can't turn off the pump. the supply will just keep pumping, and pumping, and pumping...

That's why they have blind shear rams.

NOOOOOOOOOOOOOOOOOOOAAAAAAAAAAAAAAAAAAAAA

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So much for le petroleum engineering meme major

I WAS TOLD IT WAS A SURE THING
I WAS TOLD I5 LITERALLY COULDN'T GO LOWER THAN 3 DOLLARS AND IF I DIDN'T BUY NOW I'D MISS OUT ON FREE MONEY

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USO is not a long term hold you lose money when oil goes up and the contracts get rolled over do some research for once

NO NO NO IT HAS TO COME BACK EVENTUALLY IF OIL DOESN'T COME BACK THEN THE ECONOMY WILL COLLAPSE EVEN MORE!!!!

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smart play, only pajeets and niggers buy and hold ETF's

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I bought Exxon stock like three weeks ago and I'm up 11%? Shouldn't I have lost all my money

Eventually the economy will restart and yes, oil will come back. No matter how delusional the technocrat or angry the green, oil will continue to be the primary energy source for locomotion in the entire world.
Of course, it might be several years before that happens.

Bulltards will never ever learn

This is like GUSH. Options traders end up with USO2 and fucked.

I-is it bad I bough GUSH too?

I have puts and need it to have a very bad day before the split so I can ditch this shit

>buying the "dip" on a commodity that is continuously shat out of the ground, is expensive to store and has no value if it cannot be refined.
None of you faggots who bought oil futures or USO because they were cheap knew anything about what you were buying. You got big stinky bags dumped on you and you deserved it.
Stick to your virtual shitcoins.

So keep shorting until ching chong virus dissapears?

b-but it's a finite commodity...
CNN told me we were past peak oil....

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how does the opec allow this? one would think everyone would fuck off of this gay ass quarantine just to pump shit up. this shit isnt casual, its too stupid to be true

you should search in the archives for the last USO thread, look for a caps locks user dabing on all the fucking retards looking to long a short term roll over based etf

stop listening to CNN

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XOM has inherent value, USO speculates on short term oil futures