New Trade Buying Nov Calls in USO

Calls in the USO Nov $34.50 were bought today. The trade was made for $1.23 per call. USO is trading at $34.15. The target for the trade is $2.00. USO is currently trading at $34.20. Some of the reasons for the trade are:

- Oil looks to be forming a one month W formation

- Oil markets are very volatile right now  

- Weekly reports on IEA inventories comes out at 9:30 central time

Previous trades include USO (call and put), IAU, PIN, SPY, and FXC (calls twice) options. 

If a more conservative approach is more to your trading style, Trading Futures ETF Options also follows Sell The Call, a blog covering all things covered call. 

**Disclaimer** - This is just trade and or futures options information. It is not a recommendation to buy or sell any of the securities mentioned in this blog. Do your Due Diligence before any trading or investing.