Epstein Secrets

broader equity market (lu chart) • USO puts are rich vs. SXEP calls: The number of long SXEP 25d calls

seasonal oil dip via bullish X-market risk reversals Levered X-market risk reversal: Sell 1x USO 3M 25d (-88% strike) puts to fully fund 2.1x SXEP (Oil & Gas equity) 25d (-106% strike) calls (indic.) • The seasonal sell-off in oil presents a 'buy the dip' opportunity according to our Kts who expect pric

ader equity market (1st chart) * * U=O puts are rich vs. SXEP calls: The number of long SXEP 25d calls

seasonal oil dip via bullish X-market risk reversals Lev=red X-market risk reversal: Sell lx USO 3M 25d (- 88% strike) puts to fully=fund 2.1x SXEP (Oil & Gas equity) 25d (- 106% strike) calls (indic.)=/u> • * T=e seasonal sell-off in oil presents a 'buy the dip' opport=nity according to our commodity st

via bullish X-market risk reversals Steet Selling rich USO (WTI tracker) 3M 25d puts to fund cheaper SXE

y year end. In fact current levels of ~$40 are close to the summer floor ($39) they had previously suggested. BofAML strategists have turned bullish Oil & Gas equities given more CB (BoE) easing, attractive div yields and exposure to the EM recovery narrative. Moreover, Oil & Gas has been the worst performi