Monday, August 13, 2012

Status of USO trade

The status of the USO trade is currently Code Orange. The price of the ETF closed the week at $34.83. The October $35.00 option bid price is closed the week at $1.68. The price target of the option is still $3.20. The trade will ultimately end on October 19.

Crude Oil is currently trading around $92.00 a barrel. Economic reports this past week showed lower inventories that expected. The jobs report for July also showed a gain in jobs for the month of November of 163,000. It looks like it passed a resistence level at 91.00 and could move to $99.00 a barrel.

**Disclaimer** - This is just trade information. It is not a recommendation to buy or sell any of the above securities. Do your Due Diligence before any trading or investing.

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