That trade we pointed to yesterday did exactly what we wanted. Right now being able to turn skyrocketing gas prices into more trading income is a perfect win. The call option we spotted played out exactly as expected. Leveraging the rising oil prices with the ETF USO has produced multiple profitable trades. Let’s look at the chart and see if we can spot the next one.

Since the lsat trade took a $7 call and pushed it up over $15 we are going to keep looking for more. We can see that the last time the MACD and RSI got very elevated it held for a couple weeks. That is a tough accomplishment to pull off so the hope will be to lock in profits, move the strike higher on a new option and keep the money flowing until it doesn’t. We’ll take a look in the morning and see if the momentum can keep the trend alive.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily