TAMPA, Fla., Aug. 27, 2015 /PRNewswire/ -- According to James Cordier, principal and founder of OptionSellers.com based in Tampa, FL, oil prices could fall to $30 a barrel based on current fundamentals and could slide "deep into the 30's" if Iran begins exporting oil this fall.
"The key right now is Saudi Arabia pushing the market down, basically challenging oil producers here in the United States," Cordier told CNBC's Closing Bell on Wednesday, Aug. 19. "If Iran begins exporting and floods the market, that's what brings the market down to $30."
Cordier also cites the end of the driving season and the beginning of the "shoulder" season, which indicates lower demand in September and creates bearish factors for oil.
The biggest factor Cordier sees is the major oil producers being unwilling to cut production, even at current price levels. "Some producers are drilling and producing oil because they need to, and others are trying to force the market lower to get some energy producers out of the market," says Cordier.
"People think you always have to be buying or waiting to buy a market to make money," explains Cordier, who co-authored the 3rd Edition of "The Complete Guide to Option Selling, How Selling Options Can Lead to Stellar Returns in Bull and Bear Markets," published by McGraw Hill in 2014. "We think there are sometimes better opportunities to make money when markets are moving lower. Once investors understand this, they can really start to take advantage of times like these."
About James Cordier
James Cordier is Principal and Founder of OptionSellers.com in Tampa, FL. James and his firm specialize in option writing and have developed a strategy of selling out of the money options on futures contracts that they share with their clients. James' study of the commodities market began at age 14, when a silver coin collection sparked his interest in silver futures. He began his career at Heinold Commodities in Milwaukee as a broker in 1984. In 1999, having established a solid reputation within the industry, he founded an investment firm specializing exclusively in selling options.
He is co-author of the book "The Complete Guide to Option Selling" 1st, 2nd and 3rd Edition, (McGraw Hill 2015).
With over 20 years of trading experience, he is quoted regularly on the futures markets in several national and international publications including the Wall Street Journal, Bloomberg News, Barron's, Forbes, CNN Money and Dow Jones Newswires. He is a regular guest analyst on CNBC, Bloomberg Television and Fox Business News.
OptionSellers.com is an investment firm, specializing in the exclusive strategy of option selling, offering individually managed option selling portfolios to a small, elite group of high net worth investors.
March Media Relations
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