Trade Alert
Long 1,500 BNO $60 strike calls at $3.45 July 17, 2026 expiry in the HFI Portfolio.
This is a conviction bet position for us.
Rationale:
Backwardation roll yield in Brent futures offer BNO a natural upside return over the coming months. BNO is currently in June futures with rolls to July contracts expected soon.
June Brent is trading at $99.57 wh…