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Is it Time to Short Oil?

Posted on March 9, 2022March 9, 2022 By Jerry No Comments on Is it Time to Short Oil?
HotTrades, Investing

49BAB573 5248 42C8 8338 254257FD111C 660C5E9F E8FE 403E 9951 6AC870E9A1ED

Entered a high probability trade against Oil using the USO ETF as my vehicle for shorting. Sell a April 14th, 105 call and purchase a April 14th 110 call for a $54 credit. It has a 76% chance of making 22$, with a max loss of $446.

3/9/22 Update – Yes, I think it was – 2 days later, the premium collected decreased by 50% so bought to close for a $29 profit!

Tags: bearish calls contrarian Oil options uso vertical vertical spread

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