Looking for some suggestions on how to make a long term play on the oil (USO) with options. My sentiment as follows. 1) Oil will come down..hard...eventually. Looking at the chart dating back 10 years, in addition to the macro economic + social and political link to oil prices, the current spike is not sustainable in the long term. 2) Not clear on where oil will go short term (within the next 2-4 months). Given all the MM(goldman, morgan etc..) are pushing oil up heavily, and the tendency that a bubble usually will grow bigger than anyone expected before busting. So what's a good strategy to make a play on oil? I could just buy some leap 2010 puts, but given the fact oil may still go up quite a bit and high vol on those options. Is there a better trade? I definitly dont want to miss when oil do start to drop though.