Monday, April 13, 2009

UCO Down Sharply , USO Rollover Ends today, Straddles

UCO is currently down 11%. The 9 puts are up +125%, making this the perennial profitable straddle trade.

Reminder that today is the last day of the monthly USO rollover. At $8.25, UCO is in a perfect spot for a 7.50-9 straddle.



With 4 days left, April straddles are extremely dangerous and are subject to the chance of a 100% loss. Much safer are the May strangles:


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