Davis Martin of DailyProfitMachine.com missed a rally in oil prices after three devastating hurricanes struck the United States in the last few weeks, but the price of oil and the United States Oil ETF (USO) pulled back and now he expects another rally. He’s holding January 19, 2018 $11 calls, noting that oil tends to rise at the end of the year; he said the trade is still worth making at this point, so long as the options remain priced at roughly 25 cents per contract.
Davis Martin is the head trader at DailyProfitMachine.com. He trades SPY calls and puts and swing trades mid-large cap stocks and stock options. At the time this interview was taped on Oct. 9, he held Jan. 19 2018 $11 USO call options, purchased in a few recent transactions, and was planning to trade them as described in this conversation. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.