buying USO 38 weekly puts at .37 area OVERSIZED initial entry into a new swing trade as OIL may be breaking down

 

buying USO 38 weekly puts at .37 area OVERSIZED initial entry into a new swing trade as OIL may be breaking down. Yes oil is down already strongly but OIL may be losing its footing and wish to have a single stake but not willing to short calls because of the possibility of a bounce especially with coming OPEC meeting. This is still high risk after so much pul back but work a oversized risk exposure for incase we get a dramatic fall.

Posted in General Trading