FULL SHORT ON OIL. omg. 🥶 Abraxas Capital has gone in heavy on the short side of crude oil ...and yup, we’re talking real size here. Across two wallets, they’ve built out a combined position of around $135M, split between 954,996 units of xyz:BRENTOIL (about $102.7M) and another 322,885 of xyz:CL (roughly $32.7M).

WE THINK: this looks like a clear directional bet. #oil , according to them, is headed lower -- or at least, that’s the story their positioning is telling.

And when a fund like this stacks shorts across multiple instruments like #brent and #WTI at the same time… it’s usually not random. It’s conviction, maybe even a macro view playing out behind the scenes.

Big size, clean structure… and ofcourse, definitely one to watch.

Anyways here are those two addresses👇

0x5b5d51203a0f9079f8aeb098a6523a13f298c060
0xB83DE012dbA672c76A7dbbbf3E459CB59D7D6E36