Anyone playing oil? I feel like right now is a good time to start building a short position. What do you all think?

Michael Listman: I’m over-weighted in oil selling strangles to profit from a range. But all of the big boys have been calling for oil to continue higher (since the low 60s) and they have been spot on with their calls. Everyone see this going higher ($75 – $80) before going lower and I’m positioning for that move.
Brennan Gud: What strikes and expiations for your strangles?
Michael Listman: For June I started out with 52p/69c, rolled the Puts up a couple of times finally to 66p also went long the actual future contract to ‘collar’ any further up move and worked on scalping those contracts over the last 3 weeks (usually targeting .50 moves…See more
Chip D’Alatri: I’m long right now and hoping to get out soon. The problem I see with going short is that there are too many unknowns right now. Too many countries haven’t decided what they’ll do about Iranian sanctions, US growth may or may not hit a bottleneck soon, and if anyone in the Middle East so much as sneezes right now oil could spike. It’s due for a correction, but will probably decide on a time we all least expect.
Eric Hapka: Huge rig movement today, think it was +16. I agree with your statement! Scalped a percent and missed re-entry early afternoon by a penny. :\
William Earl: Ask Inno. He probably wrote a book on oil and knows everything.
Brennan Gud: Lol I take it your not a fan of inno?
Scot Yarnell: Shale oil should be coming online… I believe the break even cost was less than $45/ barrel on shale oil
Brennan Gud: Wish I would have trusted my gut and shorted oil futures… rarely touch the asset class so I didn’t have confidence