Conservative option strategies, what did you buy or sell today?

[fenders53]

(04-20-2020, 06:17 PM)john Wrote: Looking for more nickels.
What is USO? I get that its a oil ETF and that its very cheap, is it price of oil only that makes it move?
Was away from computer today and missed the oil meltdown today. Looking to either sell a PUT on it or maybe just buy 100 and sell a CALL.
On a sidenote my brother works for Marathon, fairly high up. When Saudi Arabia and Russia got into a pissing match I asked him what his breakeven was he said $42 /barrel they were makin a little $ High $30s they were starting to lose.

Otter can explain it better but the short answer is yes USO is tied to the price of oil using derivatives.   Oil futures contracts etc.  It does move with oil.  In the general direction anyway.  This is a strange time when the spread between the current months contract and  future months is enormous.  The spot price of oil might move $3 and USO makes a nice move.  A week later it might make a $5 move and USO doesn't move much......  

EDIT: Hold that thought, they just halted trading.