USO calls

I am looking to buy OCT USO calls - possible strikes 86 to 90

USO is now at 81.70 at 10:25 am

With crude very oversold I am expecting a bounce of at least $15 to 20 over the next 3 weeks or so.

 

I just bought some of the sep 85 c. I just think people are selling the hurricane because of how we free fell after the last one, so I think you could get a quick pop, plus I get another inven number to be long for.....

 

If thats your opinion then buy 'em. IMO, WAY too short a time period for being quite a bit OTM.

 

not huge conviction, but good risk return with a big hurricane on the way. cost a buck or so, with a lot of upside if hurricane is bad plus all of the oversold, plus option exp could push things a bit far so I thought good risk/reward...

 

with about 5 weeks to expiration?

TOS chart shows 14-day ATR at 3.3

may go for 85 calls

 

i did the sep 85 not oct....

 

the arabs made it very clear the price will be around $100. Trade with this in mind, however it's not a short term play. Anything sept is a gamble.

 

here we go again....

 

haha, I know I sound redundant by saying that all the time.

Jun