Coming down

In the third of our six-part series, our trader navigates a plan with deal-altering drugs

This article is the third of a six-part series, "A day in the life… of an oil trader" A cargo of gasoline is offered in the market with a five-day delivery window from June 20-25. We bid the offer, and end up getting filled on the trade. Knowing that we're going to take title of the product in the month of June we will be selling July futures to hedge it. We most likely won't sell the physical product until the month of September, so we buy July and sell October futures. This helps us manage the time lag between taking delivery and making a sale. Now the fun begins of managing these barrels through our logistical system, the majority of which are leased assets. We decide that the best way to