Back to the oil well


Updated: Sep 28th, 2010 | Vance Harwood

I’m back into USO after selling my shares and buying  back my 24-September S33 calls last Friday for a net credit of $32.97 per share.   Bought USO this morning at 33.01, sold-to-open S33 calls at $0.44.  Breakeven is 32.57, maximum profit is $0.43 per share.    Best case this is a 1.3% return for a 5 day investment.

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Tuesday, September 28th, 2010 | Vance Harwood