opened a $20M oil?

Probably “oil long” is the opposite of an “oil short”, where you bet the price is going to rise, as opposed to betting it’s going to fall? I don’t know much about this stuff though.

– Frost

Isn’t the opposite of a short just buying stock/commodities? Maybe buying them on credit if you want to get 1920s with it
futures are a leveraged bet on higher price (buy long) or lower price (sell short) by the 3rd week of a month.