The Leonidas Energy Strategy is a pure discretionary energy trading strategy managed by George Michalopoulos, formerly a senior energy derivatives trader at Citadel.
The Leonidas Energy Strategy has a unique understanding of global supply and demand dynamics as they relate to WTI, Brent, and Henry Hub natural gas.
Because these are physically-delivered contracts, there arises a unique trading advantage for those understanding the fundamental dynamics. Often without taking the risk profile of outright positioning (long/short) in the underlying commodity. This can be expressed in grade differentials, like WTI-BRT, WTI spreads, BRT spreads, and even WTI vs BRT spreads.