USO - Oil Retrace

Charts signal a one or two day drop in oil prices. Going all or nothing on USO weekly $12 puts, only 20 contracts though.

Will flip the puts by COB tomorrow, win or lose.

Note: This is a quick flip, it may have another leg up long term. Depends on Iran, though I think both Iran and Trump are all talk with no balls.

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API reported inventory drawdown but the real number don't come out until the U.S. Energy Information Administration report crude oil inventories tomorrow at 10:30a.m. EST.

Watch for big movement then.

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One week too early, oh well.