I covered my puts on the USO last week.
instead of the uso why not trade options on the actual crude future?
I am not allowed to because of trading restrictions at work. That is what I would prefer to do. I don't like the USO but I want exposure to crude.
I covered all my shorts today. I think the move is too powerful. Stocks are being jammed up. Arguing with the market is usually an unwise thing to do.
We are extremely overbought. However, I think that once we work off the overbought condition, we will move higher again. At some point, you are not going to want to own a single equity, but that time has not arrived.