I am going to be dead honest and say that this could go either way. There is no bigger tail to the up or downside to this situation. So then I have to factor is China and the scared markets with oil. I do know that the Saudis are engaged in the bad practice of flooding the market to drive the local oil producers out of business in our country and other countries. So I expect that to continue as there are still oil busniesses over here holding on.
Based on that and China being rattled you would think I would go for some puts. But since the candle is not clear with the direction, equal top tail to bottom tail and a very narrow trading range this could continue. I really want to call it and make some cash on monday.
How about a spread? A tight spread with the soonest expiration date so we can get over a 100 percent gain on a sudden big move at open on Monday. That makes sense. I dont see things mildly going one way or another.
So: tight quick strike prices, both at the money...
Call:
There you go. Quick get that in, have a good weekend and we see what shakes out Monday.
Tradinginsider
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