Oil Trade Long Term USO

Oil hit a low of about $43 in the Futures market (/CL) a week ago, and since then it’s been going up, around $52 now. So what’s the outlook going forward ?

The simple answer is of course, we don’t know, but if you felt Oil has hit a bottom, and over the 12 months, you felt it was going to go higher, then here’s a trade idea that can potentially maintain a bullish bias while at the same time takes advantage of a flattish price action or even a down move.

The strategy is a Diagonal, on one of the most liquid instruments, USO which is the Oil ETF.
The video analyzes sentiment by looking at Open Interest.
Watch video below.

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OptionTiger is founded by Hari Swaminathan, an entrepreneur, everyday person and a self-taught Options expert for over 8 years. Hari also writes the Blog at OptionTiger, an insightful commentary of the most important issues in macroeconomics, investing, trading, Option strategies, Index and ETFs, Bond markets and more. Hari has a Bachelors degree in Engineering from India, and MBA degrees from Columbia University in NYC and London Business School in the U.K. You can read more about Hari on his LinkedIn profile , or visit OptionTiger..

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