The back story: I recently did a Raging Bull podcast episode discussing the buying USO calls (United States Oil ETF), specifically about how I missed the run-up after the big hurricanes but that I was buying USO 1/19/18 $11 call options hoping to catch the run back up.
How it turned out: USO is now at $11 here in the premarket – I am up nearly 25 percent at this point — so I’m going to cash in half today to lock in a fantastic gain. I love it when you can start celebrating the weekend early by posting a big win on a Friday.
Davis Martin is the head trader at Dailyprofitmachine.com. He trades SPY calls and puts and swing trades individual stocks and stock options. At the time this piece was published on RagingBull.com, he held 25 USO 1/19/18 11 calls (purchased at $0.37), but he was planning to sell up to 15 of them today.