Trading Brent Spreads

Hi all, new member here. Have been trading brent spreads and flies for a year now, small amount of fp as well as some WTI. Just wanted to get a thread going on it, chuck some ideas around. I don't think being too short going into tomorrow's iranian meeting is a good idea and in turn im looking to get long the spreads on dips, the close last night was a good opportunity, KM at 23/4s was a decent buy and im looking to get long there now. What do you guys think? Any Brent Spread traders out here?

Papa, I'm at Oak Futures. I don't know how to directly reply to the message you sent me so i'm replying here.
Trading flies and spreads up and down the curve. Don't really get involved in the front two though. Trade a lot of strips as well, 3 and 6 montlys. Very bullish Br spreads for the minute,listening out for news out of Iran. Not sure whether this weakness today is the opportunity I've been looking for. Charts indicating big reversal incoming, charts can go poke it if theres anything of note coming out the east though. Whats your feeling? What arcade are you at?

Hope you guys were long the front about 5 hours ago with the Press TV rumour..

dont trade the front much but was long further down, looking to buy dips in the flies down the board/ jump on some spreads if we get some news out.

9samurai said:

dont trade the front much but was long further down, looking to buy dips in the flies down the board/ jump on some spreads if we get some news out.

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you think the Q/U kink is solely due to Forties maintenance coming up? only kink down the curve that seems to stand out, whilst the rest have been 60-70s..

jumpy front spreads lately, pulled by the front outright.. since you mention further down, how far out do you get? m2/z2 and z2/z3 looked a little overbot at times over the past wk, what do you think

yea I trade all the way out, have cal13 consecs up, although i rarely get too involved there. Look for silly values on the flies and hold em for a bit. m2/z2 is as far as i'll go in the half-yearlys. I tend to keep clear of the ZZs. It would seem friday's rally was well overdone in the mid-terms, still looking to get long with this Iranian news hanging about.
Yes mate, if not it just seems a natural hedge for the bigger traders. When we first got that news about Iran stopping shipments to europe the first thing to go bid was QUV, UVX went 1 3 and NQU went -14 -12, QUV traded up to +10s. Almost everyday someone goes to market with 2000-3000 lots in QU as well.
Huge amounts of fear driving this market at the mo, personally I dont see anything as being overbought, there's no reason why zz couldnt trade 10bucks if we get some news out. I'm really bullish this br curve, as you can probably tell. haha
To be honest I'm keeping it very tight, would rather trade on break outs than try and mean revert. Not to say that there arn't opportunities to do this in the flies, it's just im not piling in.
What do you trade?