Todd Gordon's Oil ETF Trade
He explained that United States Oil Fund LP (ETF) is trading at its support and he believes it could bounce off the support to test $12. To make a bullish bet, Gordon wants to buy the May 10 calls for $0.64. The trade breaks even at $10.64 or 3.60 percent above the closing price on Monday. Gordon would close the trade if the stock drops below $9.60.
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