Now that the dust is settling a bit after Monday’s rally I
will be keeping a close eye on CLV5 and
looking for a new swing trade &/or strangle opportunity for CLV5/#USO.
My bias is currently more on the neutral side while above 43.00 and below 47.80 and unless a breach of either in the coming days I will most
likely start favoring a strangle trade. If above 47.80 I will consider a new swing Short at/near 50.40-51.10
zone or a swing Long at/near 41.85-41.20 zone.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Hamzei Analytics, LLC