That $147M oil bet is turning into a costly trade😬.
The whale who went heavily long on oil is now backing away from part of the position, with total losses reportedly reaching $15.3M.
Here's the latest:
$CL long: Closed 587,250 contracts worth around $51.87M, realizing a loss of $5.83M.
Brent Oil ( $BZ ) long: Still holding 1 million contracts worth approximately $93.7M, currently sitting on an unrealized loss of $9.45M.
The remaining Brent position has a liquidation price of $82.40.
So one leg is already closed at a heavy loss, while the other is still under serious pressure. Can this whale survive the next move in oil?
Wallet: 0x0cc159b29f45c9cc0da41326d7e18e04245bc7cb
The whale who went heavily long on oil is now backing away from part of the position, with total losses reportedly reaching $15.3M.
Here's the latest:
$CL long: Closed 587,250 contracts worth around $51.87M, realizing a loss of $5.83M.
Brent Oil ( $BZ ) long: Still holding 1 million contracts worth approximately $93.7M, currently sitting on an unrealized loss of $9.45M.
The remaining Brent position has a liquidation price of $82.40.
So one leg is already closed at a heavy loss, while the other is still under serious pressure. Can this whale survive the next move in oil?
Wallet: 0x0cc159b29f45c9cc0da41326d7e18e04245bc7cb
