Today, I missed a good opportunity in crude oil options.

2026-03-10 05:23:39

I have a pair of buy SC590 and sell SC610 positions. This morning, I noticed my margin was running low. At 9:23, I tried to place an order to buy to close SC610, and unexpectedly, it was filled shortly after. I think it was likely a forced liquidation order. Based on the Brent crude oil futures at the time of the transaction, there was at least a 100-point spread.

This made me consider whether, for highly volatile commodity options, a “wait and see” strategy is also viable. When the price gap between the limit-up or limit-down price and the actual price is large, directly closing the position and selling, then immediately moving the strike price to a level where the premium can cover the loss. This way, even if there is a subsequent pullback, the loss would be minimal.

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