MRO: An Alternative to USO for those who want to trade OIL
From our last post, we are STILL diverging to the upside with MRO. It is pretty impressive how it has remained at this level despite the huge swings in oil futures and the decimation of USO. Even with the increase in futures prices today, USO still went down. I understand this is frustrating for traders who are new to USO, but this is expected unless futures rise DRAMATICALLY. Research how USO works and you'll see what I mean.
Despite all this, MRO has been holding up well and we have accumulated June and October CALLS around $5 and $6 strikes. The greeks look great and project more than 100% gain if MRO pops to $6, which it very may well do.
Despite all this, MRO has been holding up well and we have accumulated June and October CALLS around $5 and $6 strikes. The greeks look great and project more than 100% gain if MRO pops to $6, which it very may well do.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.