Opening: USO October 30th 170/180 Short Call Vertical... for a 1.09 credit.
Comments: Adding short delta back in on this bounce to flatten net delta in my USO position. Alternatively, a bet that USO stays below 170 (the 52-week high is 163.35).
Metrics:
Max Profit: 1.09 ($109)
Max Loss: 8.91 ($891)
ROC at Max: 12.2%
Compare with United States Oil Fund LP
CCI reads: major indexes, ME, UGL, BTC, USOA few I'll work to play this week but for the most part the sidelines are my calling. Chop chop. I did not call out in the video that I am watching the cnn fear/greed index as well. Like to see it dip to 20 or below for a nice entry long... as the great Don Wolanchuk would say, Think like a crimi
Opening: USO 3 x 130/135/175/185 Iron Condor... for a 4.00 credit.
Comments: Ordinarily, I would do a 2 x 130/135 175/185 or a standalone long delta hedge, but doing a ratio to cut short delta of my USO position instead. Here, the "widest wing" is the 3 x 5 or 15 ... . I'm indicating that this is "long" here, only because the setup's delt
USO - Oil Fund Breakout Following in line with the breakout on USOIL, the United States Oil Fund is breaking out as well.
This one is particularly interesting. Ever since the breakout in March during the US-Iran war, USO broke above its multi year resistance between $85 and $90, which is a level that had held as significa
Opening: USO October 16th 2 x 109P/-114P 155/165 Iron Condor... for a 2.74 credit.
Comments: Selling a little premium in the West Texas Intermediate ETF. Using a double double to accommodate skew a smidge.
Metrics:
Max Profit: 2.74 ($274)
Max Loss: 7.26 ($726)
ROC at Max: 37.7%
ROC at 50% Max: 18.9%
10% Width of the Wing TP: 13.8%
I've been generally lo
USO long-term TAYou have to be a little bit cautious about oil trade, the long-term trend is still there yes, but the current momentum behind this price move is not as strong as it used to be, which is a slight problem, the current ongoing actions between US and Iran have not returned long-term holders in place, at
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Displays a symbol's price movements over previous years to identify recurring trends.
Frequently asked questions
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No, USO doesn't pay dividends to its holders.









