Buying Swing: buying USO 41 weekly calls at .40-.43 area 2X
Posted: Tue Mar 01, 2011 3:54 pm
Buying Swing: buying USO 41 weekly calls at .40-.43 area 2X OVERSIZED as a hedge on the bearish stakes.n posted the hedge in the room earlier but did not send email till now, she is ticking and at .46-.47. The calls expire this week and are high risk and are meant to hedge against 3 bearish stakes on oil. The bearish bets on OIL and gold have not worked out and cant fight the tape so this makes a bit of a long strangle since still believe that a sharp fall could materialize once Libya is overthrown by its own people. Still have no hedge on GLD bearish bets.