Latest news with #PhilStreible
Yahoo
31-07-2025
- Business
- Yahoo
Copper ‘Lotto Tickets' Pay Off After Trump Shrinks From Tariffs
(Bloomberg) -- Options traders who bet the Trump administration would renege on its promise to tariff raw copper imports are cashing in big. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Budapest's Most Historic Site Gets a Controversial Rebuild San Francisco in Talks With Vanderbilt for Downtown Campus On Wednesday evening, more than 31,000 contracts went from out-of-the-money to in-the-money after President Donald Trump shockingly exempted the most widely imported form of copper. The contracts, now with a notional value of $3.54 billion, reflect a significant shift in the copper options market. That's a sharp increase from Tuesday evening, when only 675 in-the-money put options were recorded, valued at $94.4 million. It's a win for bearish traders who believed Trump would back off his tariff vow. It also signals some upheaval for banks and hedge funds that took long paper positions on the assumption that Trump would follow through on his protectionist trade policies. 'It's pretty amazing — the lotto tickets worked,' said Phil Streible, chief market strategist at Blue Line Futures LLC who has traded copper options and futures for over two decades. 'All the tariffs that we've seen and many of the policies coming out of the administration have been very fluid in nature with extreme outcomes on both sides of the tail trade.' Trump three weeks ago said he would levy a 50% tariff on copper imports from Aug. 1, but didn't specify which products would be covered. While Wall Street piled into trades before the deadline, an expansive lobbying campaign played out in Washington, with US copper producers, semi-finished products makers, scrap yards and foreign governments angling for measures that would benefit their industries, whether it be exemptions, punitive tariffs or a complete abandonment of the tariff. After Trump's surprise move Wednesday, copper prices in New York fell the most since at least 1988. Just last week, futures had reached an all-time high of $5.9585 a pound. --With assistance from Michael Roschnotti. Burning Man Is Burning Through Cash Russia Builds a New Web Around Kremlin's Handpicked Super App Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
29-05-2025
- Business
- CNBC
Here are the factors driving copper prices and the stocks to play
Phil Streible, Blue Line Futures chief market strategist, joins 'Power Lunch' to discuss what's fueling the copper demand and if investors should get in on the rally.
Globe and Mail
10-03-2025
- Business
- Globe and Mail
Precious Metals Consolidate with Inflation in Focus!
Precious metals consolidate as inflation remains in focus—will upcoming data spark the next big move? Phil Streible breaks it down in today's Metals Minute—tune in! Discover insider insights on your favorite Precious Metals with our Metals Minute! Uncover overnight developments and get expert analysis on what to watch for each trading day. Dive into today's Metals Minute for crucial levels, exciting trade insights, and must-watch highlights to keep you ahead of the market! Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. Blue Line Futures is a member of NFA and is subject to NFA's regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition. With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@ or call us at 312- 278-0500 Performance Disclaimer Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
