Bought Some OIL At The Close

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June 7, 2007

I picked up the OIL ETF, the symbol is literally OIL. Looks like a bounce is in the works. In at 37.3. I did notice someone was buying 1200+ contracts today for the June 49 USO calls. Thats surprising considering there are not alot of days left till expiration. The symbol on that call was +USOFW. I almost followed the money like the Najarian brothers do, but went against it because of the time factor. Instead I felt just buying the ETF was good. USO and OIL tend to trade similarly  so no biggy.


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