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.
Strangles:
April:
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:
May:
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