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USO

Trade Idea: USO July 15th 2 x 72/62 Put Ratio SpreadWTI is the highest it's been in a very long time ... . You can naturally play /CL directly or use USO Here, I would buy 2 x the 72's in July and sell the 62, with the result being a break even where the stock is currently trading. I would go longer-dated in this particular case to allow shale to get back in the game, U.S. production to increase somewhat toward pre-pandemic levels, and stockpiles to build. Metrics: Max Loss: 19.91 ($1991) Max Profit: 62.09 ($6209) (That assumes that the underlying could go to zero, which it naturally won't) Break Even: 62.05 relative to today's closing price of 61.68 Delta/Theta: -88.19/-1.57
AMEX:USOShort
by NaughtyPines
CL - 4 hour / Gap FilledCrude Oil will provide the Leading Indication for a Reversal into the 3/5 for the Indices. The DX has been wandering in the Desert @ 96. All eyes have been on the Breakup and out to 98, it has yet to materialize and with Rates pulling back, we will see quite clearly where the Operators have designs on Price. ____________________________________________________________ EIA has shown Crude Draws with odd movements in RBOB / RB. Energy has been a Pillar of the safety Trade since December into January. We see the potential for a reversal setting up nearer term. Perhaps it will be the Instrument that provides leadership. It's either down to 61 or up to 88 and then potentially 104. Tik Tok.
NYMEX:CL1!
by HK_L61
CL - 15 Minute MicroCrude Oil has an expanded range from 78.36 to 80.48. Sellers have been roundly pushed back as CL would simply collect the energy and grind higher. API Today and EIA T0morrow will provide direction, the Gap remains overhead and should be filled. Rates have had a mild impact on CL, as has the DX. ___________________________________________________ We currently hold no positions and are awaiting the next break of 80 or support to trade to consider a Position. The Weekly and Monthly ranges are quite large and have us squarely on the sidelines while the Indices are providing greater Velocity Intra-Day. Should TNX backtest the breakout, we will be closely watching the reaction within Energy. NG came up nicely off its 3.50/3.70 range to move back over $4. RBOB remains in a larger Range and is becoming a leader in the Energy Complex into March as reformulations begin to gain momentum.
NYMEX:CL1!
by HK_L61
USO, 10 Jan. Is the Oil price about to crash?Oil has completed a 5-wave move on 25 Oct. Oscillators and geometry suggest a decline. Geometry: Price got rejected at the lower boundary of the channel. The red trend line is a second resistance, connecting the previous low and the gap. Elliott: We can count an ABC (in green), which makes up corrective wave (b), in blue. If correct, we can expect a wave C to the downside. Oscillators: The RSI shows a strong bearish divergence. The MFI points downwards. Stochastic is overbought and due to retrace. Correlation: USO is -.74 inversely correlated with TLT, at support, and .71 with XLE, at resistance. How to trade it: The idea is to build short exposure between 57 and 60. The red and blue trend lines give us two excellent risk-reward ratios. If price continues towards 60 it is likely to form an expanding flat correction. The idea is invalidated if USO establishes support above 56.
AMEX:USOShort
by UnknownUnicorn12250317
CL - Daily / Weakening Structure / EIA 10:30 AM ESTLeave it to OPEC to Delta the recent Phantom 400KBPD Output Increase. Called BS on that farce, and it's knee-deep. Thursday, they will announce a cut or rollback of the most recent snafu. Hachoo Hookah as we refer to it. ________________________________________________________________ Crude remains the Leader along with the NYSE Comp and BitCon. Weakening in Daily Structure and Failing the 3 drives to a Top at the 50% no matter how you draw it. 77 or bust again, 57's re-open. ________________________________________________________________ 10:30- AM EST will be a pivotal Time for everything.
C
by HK_L61
OVX - Crude Oil VolatilityThe current volatility is above historical volatility, traders anticipate higher volatility for Price in the Short to Intermediate-Term. Crude Oil WTI Jan '22 (CLF22) 66.26s -0.24 (-0.36%) Crude Oil WTI Feb '22 (CLG22) 66.10s -0.17 (-0.26%) Crude Oil WTI Mar '22 (CLH22) 65.93s -0.10 (-0.15%) Crude Oil WTI Jun '22 (CLM22) 65.26s +0.02 (+0.03%) Crude Oil WTI Dec '22 (CLZ22) 63.69s +0.26 (+0.41%) _______________________________________________________________________________ Currently, the Term Structure for Crude Oil is in very slight Backwardation. The Teem Structure is flattening somewhat - this will change in time, for now it is in the Confidence Cycle interest to keep things tightly aligned, both Up and Down. CL remains a hostage to further News Cycle surrounding OPEC's attempt to support Price to the best of their abilities within reason. They do not want to spook the Market but instead will attempt stability in the very short term.
CBOE:OVX
by HK_L61
CL - 1 Hour 3/3In attempting to stress the Risks associated I need to step it up... this is the entire Measured Move and RTs for CL into 2022. 85.41 - HIgh 23.6% - 66.7872 38.2% - 55.2664 50.0% - 45.955 61.8% - 36.6436 76.4% - 25.1228 100% - 6.5 Low _____________________________________________________________________ For now, with traders looking for a "Right Shoulder" but waiting for a lower Fill for the reversal... The Trade IS 100% CF, a WAG Trade. _____________________________________________________________________ Traders are afraid to wait, afraid to Enter. Fear is present, everpresent. FEAR _____________________________________________________________________ The rather odd thing, once again... is there a Rush to discover how wrong you could be? I certainly would like to believe not, but am proven wrong every day by the Majority. Gunslinging is an Option, always. We prefer the Bar, where Dirty Monkeys are chill, smoke is thick and Alexandra can find her next soul mate. ______________________________________________________________________ The game has been to run the price up into Lunch SELL thereafter, Launch Globex opens on the right day of the week and pray. We'll bite, but... with extreme caution... the Downside is enormous, the upside contained. Greed will kill a great many here.... both ways. Be Nimble, be quick, and don't anticipate Miracles... they're not arriving. ________________________________________________________________________ CL is a WidowMaker once again.
NYMEX:CL1!
by HK_L61
2
CL - PO Hit during GlobexCrude crossed its Retracement Objective during Globex @ 67.16. 63.73 and 62.42 are now the Lower Range. OPEC Wraps up today. ____________________________________________________________ Currently, the largest influence on Oil is the Equity Complex, it is tracking the NQ closely. Expect VX in CL as it's due for far more, they'll need to squeeze this back up to 68.69 to prevent a waterfall decline. A Break of the LT Trendline is now 64.45 - Price traded it yesterday. ____________________________________________________________ OPEC Meeting began @ 8 PM EST and should conclude this morning with an announcement by 10:30 AM EST to 11:30 AM EST.
NYMEX:CL1!
by HK_L61
2
An Impulse of Intuition, An Ideal time to Sell your Oil 🛢️⛽🖼️Perhaps the seed of Charting Rbob Gasoline Earlier. This Black Gold stuff is a slippery liquid. Oil seems to be stealthy making lower lows & perhaps about to make a lower high. Have to be slick to market time the ole WMD. *Short ideas are SELL ideas only, don't support outright short selling.* Peek the detailed breakdown notes in the high def chart links below : TVC:USOIL AMEX:USO LSE:PBRT NYMEX:CL1! TVC:UKOIL NYMEX:BB1!
TVC:USOILShort
by d-MR96nBa
4