Todd Gordon's United States Oil ETF Trade
Todd Gordon of TradingAnalysis.com said on CNBC's Trading Nation that crude oil is under pressure and it looks technically weak. He thinks that the OPEC meeting and the strength in the U.S. dollar could push crude oil even lower.
To make a bearish bet he wants to buy the January 10/9 put spread in United States Oil Fund LP (ETF)(NYSE: USO) for $0.37. The trade breaks even at $9.63 or 4.27 percent below current market price and it can maximally make $0.63 or 6.26 percent of the underlying price.
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