Aftermath of Black Monday (March 9, 2020)

Only 5 U.S. shale companies have lower costs to produce oil than the current price of WTI Crude Oil while over 100 companies are already losing money.

Put-Call Ratio rose to its highest level EVER yesterday. When I was buying puts at the start of the year people thought I was nuts as the ratio was upside-down at the time.

Delta and American Airlines abandoned giving forward guidance for the time being.