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$USO 27Apr
they have shifted weightings to 14July / NAV $2.06
what used to be 80/20% 1st / 2nd month, they even have inventory in Oct20, Dec20, and Jun21 !
they have shifted weightings to 14July / NAV $2.06
what used to be 80/20% 1st / 2nd month, they even have inventory in Oct20, Dec20, and Jun21 !
4/n $USO 28Apr settle
y'day ETF management stretched $CL_F inventory even further out, weighting shifted +3wk from 14Jul to 03Aug.
y'day ETF management stretched $CL_F inventory even further out, weighting shifted +3wk from 14Jul to 03Aug.
5/n $USO 29Apr settle
They sold all Jun lots, shifted further out, weight is now 29Aug with 136940 contracts left.
Through the new roll strategy, fund inventory went from 23rdApr 175k to 137k = "cost of roll" -38k contracts.
Priced now after 8for1 rev split.
They sold all Jun lots, shifted further out, weight is now 29Aug with 136940 contracts left.
Through the new roll strategy, fund inventory went from 23rdApr 175k to 137k = "cost of roll" -38k contracts.
Priced now after 8for1 rev split.
6/n $USO 30Apr settle
New target weight will spread even across the whole curve (15% each).
Current weight shifted to 01Sep
Roll exercise reduced inventory by -22% or 38649 contracts since 23Apr.
so while CLM0 rallied +90%,CLN0 +30%,CLQ0 +18%, USO only +13% since 28Apr low
New target weight will spread even across the whole curve (15% each).
Current weight shifted to 01Sep
Roll exercise reduced inventory by -22% or 38649 contracts since 23Apr.
so while CLM0 rallied +90%,CLN0 +30%,CLQ0 +18%, USO only +13% since 28Apr low
7/n $USO 01May settle
misread prospectus, here the adjusted sheet.
anyways, fund reduced Jul weight by 4%, but added Nov contracts (not mentioned in prosp), weighted maturity shifted to 04Sep.
Roll exercise reduced inventory by further 1390 contracts.
cls vs NAV +1.5% prem
misread prospectus, here the adjusted sheet.
anyways, fund reduced Jul weight by 4%, but added Nov contracts (not mentioned in prosp), weighted maturity shifted to 04Sep.
Roll exercise reduced inventory by further 1390 contracts.
cls vs NAV +1.5% prem
8/n $USO 08May settle
w/w
- fund reduced ~9% Jul contracts and rolled most of them into Nov+Dec
- average weight maturity shifted from 04Sep to 18Sep
- roll exercise led to a 2305 contracts reduction of inventory
w/w
- fund reduced ~9% Jul contracts and rolled most of them into Nov+Dec
- average weight maturity shifted from 04Sep to 18Sep
- roll exercise led to a 2305 contracts reduction of inventory
8/n $USO 15May settle
w/w
- "kicking the can up the roll curve"
- almost at next weighting targets
- average weight maturity shifted to 30 Sep (CLV0+)
- roll exercise yet again led to inventory reduction: last week 1499 contracts or ~1.5mln barrels
w/w
- "kicking the can up the roll curve"
- almost at next weighting targets
- average weight maturity shifted to 30 Sep (CLV0+)
- roll exercise yet again led to inventory reduction: last week 1499 contracts or ~1.5mln barrels
10/n $USO 22May settle
w/w
- "kicking the can up the roll curve"
- average weight maturity shifted to 04 Oct (CLV0/X0)
- roll little unchanged, only 54000 barrels less inventory vs last wk
w/w
- "kicking the can up the roll curve"
- average weight maturity shifted to 04 Oct (CLV0/X0)
- roll little unchanged, only 54000 barrels less inventory vs last wk
