USA stated they were going to replenish strategic reserves at 65-70 level. We're here, expecting price floor to be established.
Comment
⋅
Might chill a little bit to break here (77 region) moved a bunch of the USO position to SPX. Keeping option exposure for now is all.
Comment
⋅
rolled 4/6 65 calls to 7/21 75 calls USO
LFG!
Comment
⋅
USA didn't even buy any oil for their reserve, LOL. This is massively more bullish.
SPX is going to push next week. Going to take out some SPX profits and start picking up some more long dated USO call options. Looking at Labor dayish expiration.