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Remember when oil was all the rage?

Time flies, and sentiment changes!

Every rally gets sold faster and faster, but let’s try to find some pros for the black gold.

USO trade idea from today’s Macro Options Daily ☟

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Downtrend Dominates

σ Oil has been in a downtrend for quite a while.

And it seems that bulls are slowly throwing in the towel.

Rallies just can’t catch a break!

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Testing the Lower End

σ We’re back to probing the lower end of the range.

A breakdown to 50 on USO isn’t off the table…

But playing the contrarian upside looks increasingly appealing – especially with China stimulus hints emerging.

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Contrarian Opportunity

σ Underweight on commodities, particularly energy?

Believe in structural reasons for long-term portfolio allocation?

It might be time to consider bullish risk reversals with short-puts at the prices you’d be comfortable buying and holding.

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20% Discount & OPEC’s Bazooka

σ Another -20% off current prices could entice many to hop on board.

And we wouldn’t be surprised if this causes OPEC to whip out their big guns once more.

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Would you benefit from one-on-one time with Imran to learn how to better implement this type of trade into your portfolio?

You’re in luck!

One-on-One with Imran is back!

➠ follow the link below, then book your exclusive time with Imran ↴

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➠ In the meantime, get more color on what we are seeing USO in the clip below from today’s Macro Options Spotlight ↴

 

 

➠ Then watch today’s full video from the Options Insight YouTube Channel ↴

 

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Thank you for making it this far!

Be sure to share this with anyone you know who is interested in or invested in oil.

Cheers!

Imran Lakha
Options Insight