USO calls

Discussion in 'Options' started by Jahajee, Sep 11, 2008.

  1. 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.
  2. hat8866


    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.....
  3. If thats your opinion then buy 'em. IMO, WAY too short a time period for being quite a bit OTM.
  4. hat8866


    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...

  5. with about 5 weeks to expiration?

    TOS chart shows 14-day ATR at 3.3

    may go for 85 calls
  6. hat8866


    i did the sep 85 not oct....
  7. 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.

  8. here we go again....

  9. tpli


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