USO continues to follow the purple downtrend I drew last week. The short term bull trend couldn't hold and today opened below the support levels (shown as 1st the horizonal purple line). I was able to get cheap $3.5 calls at market open, and could've taken a 75% profit but decided to chase more gains (bad move) and the market closed with my options up about 30% instead.
I'll be watching market open tomorrow to see if it'll be possible to squeeze some more profits out before selling. If not, I'll be selling before I get into the red.
I'll be watching market open tomorrow to see if it'll be possible to squeeze some more profits out before selling. If not, I'll be selling before I get into the red.
Comment:
Market opened in the red so I changed positions; sold my calls and bought puts for a profit. USO has had trading halted multiple times throughout the day, making it feel really risky to be in either way. Backing away from USO to watch what happens over the next couple of weeks
