UCO Straddles for February and March

Given the wild oscillations of UCO (2X oil bull ETF), here are some straddles for February and March (from the tool at http://nexalogic.com/nexastraddles.html):

Feb Put 9-Call 10:

• Current price: $ 9.41
• Call strike: $10 Put strike: $9
• Call premium: $0.65 Put premium: $0.65
• Results:
• Move required to the upside: 20.09% Move required to the downside: -18.17%

Feb Put 9- Call 9:

• Current price: $ 9.36
• Call strike: $9 Put strike: $9
• Call premium: $1.1 Put premium: $0.7
• Results:
• Move required to the upside: 15.38% Move required to the downside: -23.08%

March (still fairly illiquid) Call 10 - Put 9:

• Current price: $ 9.41
• Call strike: $10 Put strike: $9
• Call premium: $1.3 Put premium: $1.3
• Results:
• Move required to the upside: 33.90% Move required to the downside: -31.99%
  March

Those are maximum moves (please see earlier straddles report this week). For March particularly the actual figure is much lower.

I have posted several times on 2X ETFs and why they should be avoided for any long term. UCO is even worse (good for gambling), but nothing better than beating the issuers at their own game. Those straddles look attractive.

Other options calculated at different prices are shown below:

March: