US Oil Fund (USO) – Bullish Options Action Trade for Nov 19th, 2018
On Friday’s Options Action, the crew analyzed the performance of oil prices. Energy has been the worst performing sector over the past quarter and has recently started to move higher over the last 3 trading sessions. Coupled with a possible cut in oil production from OPEC and huge bullish bets in crude, suggests a possible bounce higher. Expecting oil prices to move higher, Michael Khouw suggests buying a Dec 28th 12.5/13.5 Call Vertical for a $0.30 Debit. As of Friday’s close, this spread was trading at a $0.28 Debit.
We’ve structured this trade in OptionsPlay so you can analyze and view this trade along with the supporting technical chart at your convenience. You can also view the Options Action’s video by clicking on the following link: USO Options Action
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