The Nov $34.00 put on USO was sold today for $2.12. USO was trading at $32.70 at the time of the trade. The trade status was Code Yellow. Some of the reasons for the sale of the put are:
- USO had big move down
- Time Value on option went from $1.70 when the trade started to $0.70 today.
- There is major support at the 32.50 level
- If it looks to break $32.50 a different call with a longer time period will be purchased.
Previous trades include USO, IAU, PIN and FXC 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.