OIH - Looking for a quick run to $20.00
After suffering a long draw down, spot oil has recovered well but this services ETF is lagging.
Going back to the beginning of the year, OIH has been in a range between $16 and $18. Fueled by spot oil pushing $60 along with a positive sentiment in the overall markets (S&P 500 broke out yesterday over 2815) there's no reason this shouldn't run to $20 soon.
We bought some $20 calls going out to late summer to try and take advantage of the impending move.
Going back to the beginning of the year, OIH has been in a range between $16 and $18. Fueled by spot oil pushing $60 along with a positive sentiment in the overall markets (S&P 500 broke out yesterday over 2815) there's no reason this shouldn't run to $20 soon.
We bought some $20 calls going out to late summer to try and take advantage of the impending move.
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