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BetaShares Crude Oil Index ETF Currency Hedged (Synthetic) (OOO)

Sydney
Currency in AUD
5.40
0.00(0.00%)
Closed

OOO Comments

you should plan getting off the boat now. what ever you are on profits or loss. 3 months exit method.
you should sell 66% already, big drop now, Happy?
you should sell 66% already, big drop now, Happy?
looks like it is very bad. oil raised about 30% now, but it only rasied 12%? what happened
Check the latest announcement, they changed their underlying to September futures, which lead to the big tracking error.
crazy. price only drop but Not rise. too bad
It's painful. I too bought on 21st, thinking I'll simply sit on them for two years if need be, but instead have lost plenty, and due to futures prices and 'contango', am set to loose it all unless there's a sharp rebound. From my current understanding one should only hold this fund (or others like it) for a couple of hours/days, not months/years. Make sure you understand how it works, don't just pile in. I bought at $15, lost half. Spot price is at $21, yet I'm still 35% down. Due to contango, by the time spot price reaches $40 I may be wiped out. DYOR.
Can anyone explain how this fund works? from a high of $60 7 or so years ago to under $3 now..is there any potential of a return to $30-$60 when oil price inevitably goes back to previous highs? Or is that not how this fund works?
So USO has switched its position from nearsst future (Jun/Jul) to Aug one... anyone knows if betashare would do the same? Sent them an email but no response :(. Thanks
They have switched their position to Sep for Betashare too
They are in the process of rolling into August futures, to be completed over the next couple of days.
Below is their announcement:“We refer to the announcement made on 23 April 2020 regarding the BetaShares Crude Oil Index ETF – Currency Hedged (synthetic) (the “Fund”) to temporarily replace its investment exposure to the one-month (currently June 2020) WTI crude oil futures contract with exposure to the three-month (currently September 2020) contract until further notice, to reduce the risk to the Fund of the June 2020 futures contract trading at negative prices in the unprecedented global oil market conditions evident since last week.”
will it drop under 4?
And this is the index OOO tracks : https://au.spindices.com/indices/commodities/sp-gsci-crude-oil
If anyone is wondering this is how rollover works with OOO : https://www.goldmansachs.com/what-we-do/global-markets/business-groups/sts-folder/gsci/roll-period.html
Thx...the fund is safe, for now :)
i wonder what the rollover cost will be from April to May ...how does OOO calculate that?
I am really interested in this as well. It was in huge contango (around $5 from memory). Any ideas?
I am very interested in that as well. It was in massive contango...$5 or something.
hopefully we will see low $5 tomorrow !
purchased 5k @ 5.6 today and 5k @ 6.15 yesterday
come on $5 !
i got some at 6.15...also picked up some last week at 6.25 and the week before at 5.15....i'm  planning on holding for a year or two. Remember the worlds population is still growing exponentially, no need to fear oil wont be in demand.
my average was about 5.6, sold them at 6.9, bought some back at 6:10, waiting on it drop below 5.5, even below 5
bought some at 6.10 today, hopefully it will back to $5 or below
Tuesday is going to be brutal or golden. Wait and see.
Yes. Missed $28 a barrel last night. Sucks being only able to trade GMT+10 for a few hours a day.
can't buy in next 4 days, not good
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