USO - Grade: A
With the last few months absolutely destroying oil, we’re looking for a few months of recovery.
First post - Dec 26 2018
Crude Oil now at a major support level on the monthly chart. Going to be entering my medium term oil long position.
Expiration - Feb 15 2019
Strike - 9.5 and 10 strike puts
Stop - Crude breaks below support
Target - Crude back to 52.80 range (monthly resistance)
Update Wed Jan 23 2019
Movement is looking ripe for another move up. Adding to the position.
Expiration - Mar 15 2019
Strike - 11 strike calls
Stop - If the wedge fails and goes bearish
Target - Just letting Oil go bullish for a few weeks.