Buying Swing: buying USO 38 mar puts at .25-.30 area and sho
Posted: Thu Mar 03, 2011 1:45 pm
Buying Swing: buying USO 38 mar puts at .25-.30 area and shorting USO 41 weekly calls at .26-.30 area tomorrow expire. both the weekly short and monthly long puts are OVERSIZED. taking a bearish stance on OIL multiday negatives have cleared on my formulas and believe that once things get resolved in Libia we should see strong drops in oil. The 41 calls short is higher risk but am betting on USO not passing 41s again by tomorrows expire.