USO Headed to 35.4 At Least

USO Headed to 35.4 At Least

I came very close to nailing the bottom in USO. I'm long a 34/35 USO call spread. I opted for a call spread as opposed to straight options because the VIX was too high when USO was ~31. I expect USO to hit 35.4 within a few days. At that point I expect the dollar to be at 85.3 and SPY to be at 111.7. At that point I have to evaluate whether SPY is dropping back to 107.17 or not. If I determine at that point that SPY will drop to 107.17 to fill the gap there, then I will exit my USO position.

LOADING
(optional)
(optional)
Copyright 2009. All Rights Reserved.   Site Map
Disclaimer: All content on spychart.net is intended for recreational purposes only. Consult a licensed financial planner before making any decisions with financial ramifications. The author is not liable for any financial, mental, physical, or spiritual loss or damage incurred by the reader.