Oil is $1.5 down and OIH is up. I bet OIH will surprise everyone by dropping to $135 by March 16 (option expiry date) It has happened on many moths including last month. I am shorting OIH and or selling 140 PUT.
I wanted to load up so bad on OIL before the close but I pussied out. I hope crude goes to 58 or 59 a barrel next week and then I'll buy. My luck it goes to 62-63 on Monday. Nontheless, these prices are pretty good going into the summer and will be kicking myself down the road.
yeah, I'm gonna be picking up etf OIL pretty soon. If it drops more during the week to say 56 a barrel, I'm buying more.
Again I believe OIH is way expensive compared to oil as of today. I would go either shorting OIH or shorting OIH and going long CL.