CRInvestor

USO - Today's action reasonabl considering weekly options issues

AMEX:USO   UNITED STATES OIL FUND
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Today's price action in the popular oil             ETF , USO is quite understandable if you look at it from a derivatives perspective. Since the advent of weekly expiration options, one can get a reasonable idea of where institutions want prices to end up at 11:00 AM pst three out of the four Friday's of each month (monthly expiration has a game plan of its own). Today, USO finished at exactly $36.50 on the 11AM bar, do you think that was a mere coincidence???....lol....
and of course I miss spell the title, that's just about how my day has been today....sigh...
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