Free Options Trade On USO
Here is a trade I found today.
83.17% probabiliy of profit and a potential 17% gain.
Sell Aug 30 Puts at .50 and Buy the Aug 28 Puts at .25.
Total cost: .25 per spread.
If you look at the USO chart, there is some resistance at 31.60 so thi strade should do nively.
What do you think?
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Looks pretty strong from a technical point of view. The ~$30-$31 support seems to have been tested in Jan, Mar, Apr, May, Aug 2009.
How is this trade working for you?
So far, so good.
On the 24th, this trade is already up over 5%. Unless there is a total collaspe of oil this trade should be fine.
I can still get a credit of .25 on July 29 08 if I chose to execute this trade. The same credit as we received on July 17 09.
I got last Fridays AAPL trade filled at .49 yesterday (July 28 09):)