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United States Oil Fund

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USO trade ideas

USO Bearish Outlook: Sell Opportunity as Momentum Shifts Current Resistance Zone: The price is currently testing a strong resistance zone around the $83 level. in the past, this level has been a turning point for price movements. Potential Reversal: The chart suggests a possible rejection from the resistance zone, with a projected short-term correction to approximately $78.82 . Key Levels: -Resistance: $82.75–$83.25. -Support: $78.82 (highlighted as target). Scenario: After testing the resistance zone, a pullback towards $78.82 is expected, aligning with previous price behavior. A confirmed break above $83 would invalidate this bearish outlook. Note: Always combine technical levels with broader market context and risk management.
AMEX:USOShort
by TrendDiva
Opening (IRA): USO February 21st 79/April 17th 107 PMCP** -- Poor Man's Covered Put Comments: Shorting USO on strength using a long put diagonal/Poor Man's Covered Put, buying the back month 90 delta put and selling the front month 30 that pays for all of the extrinsic in the long. Metrics: Buying Power Effect: 22.96 debit Break Even: 84.04 Max Profit: 5.04 ROC at Max: 21.95% 50% Max: 2.52 ROC at 50% Max: 10.98% Will generally look to take profit at 50% max, roll out the short put on approaching worthless.
AMEX:USOShort
by NaughtyPines
USO Climbs to Resistance! Can Bulls Maintain Momentum?Technical Analysis Overview: 1-Hour Chart: * Trend: USO is in a strong uptrend, reaching $84.36 near the upper trendline. * Indicators: * MACD: Positive momentum, with the MACD line above the signal line. * Stochastic RSI: Overbought at 92.16, suggesting a potential pullback or consolidation. 30-Minute Chart: * Price Action: * USO is trading near resistance at $84.50, with support around $82.80. * Increasing volume supports the recent bullish move. Key Levels to Watch: Support Levels: * $82.80: Immediate support zone. * $78.89: Strong support level. * $77.05: Key support from prior consolidation. Resistance Levels: * $84.50: Immediate resistance at the upper trendline. * $86: Next resistance level if $84.50 is breached. Trade Scenarios: Bullish Scenario: * Entry: Break above $84.50 with volume confirmation. * Target: $86-$88. * Stop-Loss: Below $82.80 to limit risk. Bearish Scenario: * Entry: Rejection at $84.50 or breakdown below $82.80. * Target: $80-$78.89. * Stop-Loss: Above $84.50 to minimize losses. Directional Bias: * USO’s upward momentum suggests bullish strength, but the overbought Stochastic RSI warns of potential consolidation or a pullback near $84.50 resistance. Conclusion: USO is trading near critical resistance at $84.50. A breakout could propel prices toward $86, while failure to hold current levels may lead to a retest of support at $82.80 or lower. Monitor volume and momentum indicators for actionable setups. Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your research and trade responsibly.
AMEX:USO
by BullBearInsights
Opening (IRA): USO Jan 17th 66 Covered Call... for a 64.89 break even. Comments: With 42 DTE in the January monthly, adding a "rung" to my USO position at strikes better than what I currently have on at the 68, selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. The ROC at max isn't stellar here with the usual metric I'm looking for being at least 2.0%. Metrics: Buying Power Effect/Break Even: 64.89/share Max Profit: 1.11 ROC at Max: 1.71% 50% Max: .56 ROC at 50% Max: .86% Will generally look to take profit at 50% max, roll out the short call on test of my take profit at 65.45.
AMEX:USOLong
by NaughtyPines
Opening (IRA): USO December 20th 68 Covered Call... for a 66.48 debit. Comments: Back into the slippery stuff with /CL trading at 70.48. Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. My basic approach here is to dink and donk on the underlying when /CL is at $70/bbl. or below. Metrics: Break Even/Buying Power Effect: 66.48 Max Profit: 1.52 ROC at Max: 2.29% 50% Max: .76 ROC at 50% Max: 1.15% Will generally look to take profit at 50% max; roll out short call on take profit test. I'll also look to add "rungs" should I be able to do so at strikes/break evens better than what I currently have on.
AMEX:USOLong
by NaughtyPines
Opening (IRA): USO December 20th 66 Covered Call... for a 64.74 debit. Comments: Adding at strikes/break evens than what I currently have on ... . Selling the -75 call against long stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 64.74 Max Profit: 1.26 ROC at Max: 1.95% 50% Max: .63 ROC at 50% Max: .97% Will generally look to take profit at 50% max; roll out call on test.
AMEX:USOLong
by NaughtyPines
Opening (IRA): USO Oct 18th 69 Monied Covered Call... for a 67.44 debit. Comments: This isn't as low as I wanted to get in, but the short call is below where I would've entered would have to have been more patient and waited for 70. In any event, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 67.44/share Max Profit: 1.56 ($156) ROC at Max: 2.31% ROC at 50% Max: .78 ($78) ROC at 50% Max: 1.16% Take profit at 50% max; roll in-profit short call to maintain net delta <30.
AMEX:USOLong
by NaughtyPines
Opened (IRA): USO Dec 20th 63 Covered Call... for a 61.26 debit. Comments: (Late Post). High IV (67.7% as of Tuesday close) + weakness. Added a "rung" to my existing position at a strike better than what I currently have on, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 61.26 Max Profit: 1.74 ROC at Max: 2.84% 50% Max: .87 ROC at 50% Max: 1.42% Will generally look to take profit at 50% max, roll out in-profit short call on test of take profit. Here, the 50% max take profit would be .87 + 61.26 or 62.13.
AMEX:USOLong
by NaughtyPines
Opening (IRA): USO December 20th 65 Covered Call... for a 62.41 break even. Comments: High IVR/IV (79/51) plus weakness. Adding a rung to my USO position out in December at break evens better than what I currently have on. Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 62.41 Max Profit: 2.59 ROC at Max: 4.15% 50% Max: 1.30 ROC at 50% Max: 2.07% Will generally look to take profit at 50% max; look to roll out the short call on test.
AMEX:USOLong
by NaughtyPines
Opening (IRA): USO Nov 15th 67 Covered Call... for a 65.26 debit. Comments: Adding a rung at strike prices better than what I currently have on, selling the -75 delta call against long stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. Metrics: Buying Power Effect/Break Even: 65.26 Max Profit: 1.74 ($174) ROC at Max: 2.67% 50% Max: .87 ROC at 50% Max: 1.33% Will generally look to take profit at 50% max/roll out the short call on side test.
AMEX:USOLong
by NaughtyPines
Trend Channel Chart Projects Higher Prices for USO & WTIUUSO & WTIU Here's an interesting and unusual long view projection of USO on a weekly Trend Channel Chart with Fib levels. I like this set up here & this construct of the weekly chart. I feel like it clearly shows the trends within the longer wave cycle and creates defined price levels for a trade - So looking at the chart I see a clear zone up to the previous highs. I can place a stop close by in the low 70's with a price target for the next leg up at 96-ish.. with a time frame of around 10-ish weeks.
AMEX:USOLong
by hangonstaycalm
Opening (IRA): USO Nov 15th 63 Covered Call... for a 61.27 debit. Comments: Adding to my USO position at strikes better than what I currently have on (the Nov 15th 67's and the Dec 20th 69's). Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. Metrics: Buying Power Effect/Break Even: 61.27/share Max Profit: 1.73 ($173) ROC at Max: 2.82% 50% Max: .87 ($87) ROC at 50% Max: 1.41% Will generally look to take profit at 50% max, roll out short call on side test.
AMEX:USOLong
by NaughtyPines
Is Global Oil Demand the Key to Energy Market Stability?In the intricate landscape of global energy markets, the question of oil demand remains a central enigma. Driven by a confluence of geopolitical tensions, OPEC+ production strategies, and economic dynamics, global oil demand is a complex tapestry that shapes the future of energy markets. Geopolitical events, particularly in the Middle East, have historically been a significant driver of oil price volatility. The recent escalation of tensions has once again underscored the delicate balance between geopolitical stability and global oil supply. As geopolitical risks rise, so too does the price of oil, impacting investors in oil-related securities like the United States Oil Fund (USO). However, geopolitical factors are just one piece of the puzzle. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, play a crucial role in regulating global oil supply. Their production decisions, often influenced by economic considerations and geopolitical pressures, can significantly impact oil prices and, consequently, global oil demand. Beyond geopolitical tensions and OPEC+ dynamics, economic factors also play a vital role in shaping global oil demand. The global economy, with its cyclical nature, influences energy consumption. During periods of economic growth, oil demand tends to increase, while economic downturns can lead to reduced consumption. The interplay between geopolitical risks, OPEC+ strategies, and economic factors creates a complex and dynamic environment for the global oil market. Understanding these intricate relationships is essential for investors seeking to navigate the challenges and opportunities presented by the oil sector.
AMEX:USOLong
by signalmastermind
USO to $75MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading system is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. Price at bottom channel Stochastic Momentum Index (SMI) at oversold level TTM Squeeze just turned on (green dot up there) TTM Squeeze momentum is spiked down In at $70.09, out at $75 or when price hits upper channel, whichever comes first
AMEX:USOLong
by chancethepug
USO another long idea to $79.83The last idea on this was a total winner, so I'm gonna keep at it... I'm getting that it's time to buy it again, but less of a run than last time as the target is just a slightly higher high. This is all based on my dowsing work btw. The drop this morning should reverse, but may want to fill the gap at 73.39. I have a time of day at 1:40-50. IDK if it'll be the low, or is something else, but it's fun to watch. Regardless, it's likely more up than down from here. I also keep getting there's news coming & that's in almost every stock I ask about. It said for USO the news sends it up.
AMEX:USOLong
by JenRz
Timing & dowsing pick USO longI'm getting via my dowsing work to watch for a spike down and reversal up. I still have a target from a reading last week or so around $69-70 and tomorrow is a calendar date. Often these dates warn of a kind of reversal. I got 9.8 as a percentage up from current levels, but I'd be aware of where 9.8% up lands from whatever low is made just in case it's off. This all could potentially occur this week because I got the answer that the high is "for the week", but I wouldn't rely on this at all. Just noting it for journaling.
AMEX:USOLong
by JenRz
Finally time for bullish oil? $USO to $120 then $300+People have been calling for the oil bull market to begin for the past two years and the trade largely hasn't worked as we've gone sideways to down. However, based on the chart, it looks like we're finally ready for a run. This would also line up with my bearish equity thesis. Oil looks to have broken out of an inverse head and shoulders pattern and althought it's a diagonal pattern which are less reliable, the indicators that I have seem to support the narrative. I think there's a possibility that we could see a 4x move over the next year or so. Let's see how it plays out.
AMEX:USOLong
by benjihyam
10
Oil will fall signaling a recession and bonds will soar!Oil lost the monthly trendline, back-tested it twice now and is ready for the fall. 200ma is flat which means a decisive movement is coming. If oil falls, so will yields - signaling deflation which'll cause the FED to cut rates before the election. Check out my NASDAQ:TLT thread, I think you could buy OTM calls with that right now, or on AMEX:TMF for August-September and make a killing. If you're in oil, it wouldn't hurt to hedge right now. AFTER rates are cut, and the dollar starts going towards 97 THEN oil will blast-off with the second leg of inflation.. NOT FINANCIAL ADVICE!
AMEX:USOShort
by EmptyEternity
2