RagingBull Exclusive!

Jeff Bishop and Jason Bond’s #1 Investment Opportunity Now!

Money is drastically shifting into the angel investing market.

Claim your seat in our Boardroom and learn how it can outpace any other investment opportunity!

Today’s trade: An oil downturn and United States Oil (USO) puts

Jeff BishopJeff Bishop ·

The set-up: The United States Oil ETF (USO) is a proxy for oil, and oil made an extremely strong move – well over 10 percent in less than two weeks – at the end of July. Now it’s consolidating.

From a purely technical standpoint, I think this is a great short-term trade. USO made a double-top around the 10.20 level and has been bouncing off that level. Now the hourly indicators are starting to roll over.

The play: I am in the August 18 $10.50 puts – I have 500 contracts bought over the last few days – and I am looking for a 5 percent decline in USO well before I have to worry about the expiration date. I’ll stop out if oil makes a new high on this run, which would be around $10.35 for USO.

I’m also adding the VelocityShares 3X Inverse Crude Oil ETN (DWT) to the watch list at Top StockPicks.com, and am likely to use it if I see oil bounce off the top again.


   Jeff Bishop is lead trader at TopStockPicks.com. He runs short-term trading strategies, primarily using leveraged ETFs.  At the time this was published on RagingBull.com, he held 500 August 18 $10.50 puts on USO as described here; he had no open orders for additional options, though he was considering adding to his position. He held no shares of DWT, but had added it to his watch list.

Trending Now

Bull or Bear Market….It Doesn’t Matter

Kyle Dennis’ new, 5 min strategy is poised to double account sizes weekly! “I got out of GE trade at 379% $0.16-$0.77, thanks Kyle!” Said client Lance P. Check out the free training that started it all. (View Free Training)

SuperNova Service Leading Clients to 5-Figure Profits Consistently

“BOOM!!! Booked another $13,985 in profits on my long position $VMNGF. Great report came out premarket. Thanks Jeff at SuperNova for teaching me to make $$$ in the market.” Said Todd V. Jeff Williams is helping transform small accounts daily. Don’t miss his free walkthrough. (Watch Now)

Jeff Bishop, RagingBull.com Co-Founder, “Trading My Strategy Takes A Few Minutes a Day!” 

“Jeff, I have to say I was a little gun shy, but I bought the lifetime service (to Bullseye Trades) Friday night. First trade with your service…in LULU, 205 Calls at $4.70. (I) was going to be away from all internet connections for the next 3 days. It hit my sell price at $6.25 ;)” said James W.    (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles