Sell When You Can, Not When You Must
We have seen a tremendous run in oil and our related Russia trade over the last two weeks. We are sitting on gains of more than 170% in our USO options spread and 101% on a Russia ETF option, not to mention the 13% and 10% in the USO and RSX ETFs, respectively. Those returns are not at all modest after just two weeks of trading.
While we continue to be bullish on oil, let’s take profits and look to pursue further opportunities with the market’s next move. Besides, if Doug and I did not help you scoop up profits, we would be not be fulfilling the promise we made to you in the beginning of our relationship to make you money.
So upon receipt of this email, close out the USO spread, sell the RSX option and the related ETFs. Our screens and analysis are close to signaling additional trading opportunities. So, depending on market confirmation, be on the lookout for upcoming trades during the next couple of trading days.
Sell Market Vectors Russia ETF (RSX).
Sell United States Oil Fund (USO).
Sell to close RSX May $16 calls.
Sell to close USO June $9 calls.
Buy to close USO June $8 puts.
Jim Woods is a 30-plus-year veteran of the markets with varied experience as a broker, hedge fund trader, financial writer, author and newsletter editor.
His books include co-authoring, “Billion Dollar Green: Profit from the Eco Revolution,” and “The Wealth Shield: How to Invest and Protect Your Money from Another Stock Market Crash, Financial Crisis or Global Economic Collapse.” He’s also ghostwritten many books and articles, as well as edited content for some of the investment industry’s biggest luminaries. Read more about Jim Woods.
