PlanTradePlanMM

USO Long, option trade with big stop buffer

לונג
PlanTradePlanMM מעודכן   
AMEX:USO   United States Oil Fund
Important Note: USO long term target is "0". It is only good for short term trading. If it sounds strange, please google the reason.

Existing Condition:
1. Double bottom pattern
2. Breakaway Gap(G1), trend line break.

Stock Entry between: open and under 2.80
Stop: 2.2 (down to new low)
Target1: 4.2; risk/reward=1:2
Target2: 5; risk/reward=1:3

Prediction: Next Breakaway Gap(G2), next trend line break.

In option trade, I bought 2021 Jan Call Butterfly C3/6/9 (Delta 0.26), limit 0.47;
Sell P2 (Delta -0.21) Limit 0.46;
Total simulate long 47 shares stock for free.
Stop below 2.

According to Today's oil futures price: (Following futures could be found in Tradingview Futures list. In other platform, the symbol might be different.)
Jun (CLM2020) from $13 to $18;
Jul (CLN2020) from $18 to $23;
DEC (CLZ2020) from $28 to $30;
I estimate Oil price will go up from the bottom in June .

This is a trading school homework. I need 6 months to practice trading plan.
If you like it, thank you for your support. Please use SIM/Demo account to try it, until my trading plans get high winning rate.
עסקה פעילה:
In option trade, I bought 2021 Jan Call Butterfly C3/6/9 (Delta 0.26), limit 0.47;
Sell P2 (Delta -0.21) Limit 0.46;
Total simulate long 47 shares stock for free.
Stop below 2.
הערה:
Since I knew that USO is not good for long term up direction, I will Long USL to long Oil, and short USO to short Oil. 4/28/2020, USO shares will be merged from 8 to 1.
The only problem in USL is its options are not actively traded as USO. I have to pay $0.1 more than the mid price to get filled.
העסקה בוטלה באופן ידני:
Closed with small loss.
Today, USO down 16%, USL down 7.3%;
I will Long USL to long Oil, and short USO to short Oil.
כתב ויתור

המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.