What happened to this trade?

When does using options make more sense than short futures or swaps?  Is a long speculative trade, a physical long player can use options to reduce spread risk or leverage the position with limited risk.

Oil Traders Are Borrowing From Banks to Store Crude at a Loss http://bloom.bg/20pQoMk

Oil Traders Are Borrowing From Banks to Store Crude at a Loss bloom.bg The supply glut floats on.