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.
USO continues to bounce around in its trading range. I bought USO at 32.40, and sold-to-open S33 24-Sept expiration calls at .26. Break even i s 32.14, best case profit is $0.86 / share.