Short Oil

Oil going to test recent highs after bearish divergence. Travel picking up after covid restrictions relax.

Not professional. Comment your ideas please.

Trade active:

Possible H&S forming, currently in downslope of head.

70 strike put Exxon weekly -> roll to March monthly when oil reaches around 85, selling weekly Feb put to offset.

Comment:

Sorry I did not finish that thought. As travel picks up world oil producers will want to take advantage of these higher prices and kick on their supply. The cure to higher prices is higher prices.

Trade active:

rolling into March monthly 75 put

Comment:

selling Feb 70 puts
calendar spread total debit = 1.45

Trade closed: stop reached:

Just Wrong.