Not sure exactly yet which rations are optimal, and the way I plan on doing this, I will add when things go against me.. primarily on the XOM leg. Long USO Short XOM And I'm thinking if I want to go long another refiner, as a hedge. Perhaps WNR? But that stock has more than doubled, a very high premium if you will. I expect XOM to break down out of its channel, and USO to stay flat or grind slightly up or down, but no sharp down movement. I'm curious as to others thoughts on my trade here, and how it might be structured.