prvtrader 8:02 am on Thursday, March 3, 2016

OIL purchase

Bought a few shares of OIL at $5.05 this morning. It is on daily squeeze and trying to break to the upside.

sasquatchonline 9:32 am on Thursday, March 3, 2016

I think this is a good thing to have exposure to right now, but I opted for UCO because the options action is better. I’ve been writing puts on down moves and covered calls for the past two months. I’ve only this week had to roll the short call up and out.

I don’t expect a major move up in the near future, but I don’t expect a major move down either so short puts to reduce basis or for free money and covered calls is what I’m going to stick to.
- prvtrader 1:18 pm on Thursday, March 3, 2016
  
  Last week I sold some naked Puts on USO which are up nicely.
  Tried to do the same with OIL but there is no value on the OTM Puts…Actually, there is no value on the OTM Calls either. So I can’t do covered calls on it.
  So I’m going to hold this with a tight stop.

Leave a Reply Cancel reply

s: search
c: compose new post
r: reply
e: edit
t: go to top
j: go to the next post or comment
k: go to the previous post or comment
o: toggle comment visibility
esc: cancel edit post or comment