Long USO (USOIL)After a 10 straight drops, oil finally at support based on my indicator. As long as the support holds, long oil.
TP: 65
USO trade ideas
$USO US Oil - Oversold at Support$USO US Oil looking very oversold. Expecting to hold support this week and stay above $13.00
Looking for a medium term bounce - targeting ~$15.40 (early October gap-fill) by year-end
Note: Informational analysis, not investment advice.
USO! when oil starts the bear move it's one of the easiest tradeI've been doing well buying puts once the corrections are developing. Usually about 3-4 weeks out to allow the correction to develop and so I dont get slammed by theta decay. Now eventually if we're in an impulse to go down, we will need to see a bigger correction to develop. Will we get a few more pushes down before that happens, or will it start right now? Either way I'm looking to purchase another put sometime within the next week (as long as we dont breakout past the downtrend line, this will signal a deeper correction/ reversal depending on how price behaves after that)
Longterm view in the comments. (not confirmed yet, just looking that way)US
thanks for looking, and trade responsibly!
When you see Red... think Green! USO due for a small bounce?See callout bubbles. Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
USO Weekly Chart Trend Ive been watching this struggle to get back inside the reversal trend. Feels like we see more downside.
$USO - geopolitical news always affects oilBeen trading USO option before. Slow mover and the area is sensitive to any news. Exercise caution!
USO Rising WedgePlenty of gains to come out of USO yet. I'll start to become more bearish towards the end of September, otherwise consider me an oil bull for right now. On a side note, I did pick up calls at beginning of the day yesterday too for some nice gains. Good luck everyone!
Notice: Not financial advice.
USO mid-term outlookthe 3 month chart is starting to look like a cup and handle formation. Indicating we could see a huge spike for Crude Oil in the next 6-9 months.
USO to drop to previous support levelSince the dollar is likely to pump over the next week or so, USO will inversely follow. There hasn't been much oil news recently and USO has reacted far more strongly to DXY than anything else I've seen. Where oil goes after this move is dependent on the news of the time. Additionally, Trump is pretty determined to keep WTI below 70/bbl, and every time I have inversed trump I have gotten wrecked.
USO - OilDecent IV here in Oil and I got rid of my XOP play, so I'm adding more oil exposure.
Sold -3 Sep21 14/15 strangles at $.65 cr, $1.95 cr overall.
Risk: 2x cr received
Profit: 50% cr received
USO is about to make a measured move downtrading range in descendig triangle, which is downward orientated. Measured move is long as triangle is long at the begining.
TF T&I XVIII Chart XI Rising Wedge ETFAn example of a Rising Wedge Pattern on a ETF, in this case the United States Oil Fund.
USO, Continued momentum for Crude OilOil with an interesting start to the week. bouncing of a key support and looks poised to continue upwards to 15.5 region with no forseeable issues. RSI also relatively low on weekly and daily timeframes
OPENING: USO Put Diagonal AUG/OCT 14.5/17 PMCPUSO Bearish Put Diagonal or Poor Man's Covered Put
After nearly 15% rise in the WTI price in recent weeks, I'm taking a small bearish bet on oil with reasonable odds over the next 46 days of a small pullback back 3% to under 14.50. Followed the trade idea shared by the fine work of Sir NaughtyPines (link below).
Long the OCT 17 put strike at 77 delta and short the AUG 14.5 put strike at 35 delta.
Paid a net debt of 1.90 which is 76% of the 2.50 width.
TOS shows a 15.25 breakeven, max profit of 120 and 58% POP by Aug expiry.
IVR 71% with IV 29%
Profit target of + 20% the initial debt for +0.38 at 2.28. Sold two lots to make it worth my time.
USO setting up for a short or putTechnical show USO is moving lower. My plan is to short at current value with a Target 1 at 13.65.
I am using puts as follows. USO 17 Aug Put. My strike was at .15 per put.
Price is already up 20% on the day.
