ES Futures & USO Trades Update

2022-08-22

Sun Aug 21

Nothing exciting on the USO covered writes. Slightly profitable. This week will be the deep decay period. See previous posts for these trade details. So long as crude stays above 85, I will keep selling weekly calls against the position. Am taking on some other energy plays as well. Will be looking into some healthcare covered writes this week.

The ES futures have worked out well so far. I believe I put out the entry info in real time on this one. I got in at 4306.25 and was able to take a few off at 4206.25. That was a 5K profit/future. This was a small position (spec) so not a lot of contracts here. I have lowered the remainder stops to 4260. I seriously dislike this market but am covering my butt here. I’ll add if it goes my way. People who have never seen a crashing real estate and stock market have deluded themselves into thinking the Fed will save them. That’s a dangerous perspective.

Good trading!

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Comments

HilaryWilde
2022-08-23
HilaryWilde
With interest rate hikes not yet over, oil could fall further.
BellaFaraday
2022-08-23
BellaFaraday
I'm sure not many people will like this market.
Maria_yy
2022-08-23
Maria_yy
Looks like you're a professional options trader.
ElvisMarner
2022-08-23
ElvisMarner
Powell won't save the stock market at all.
VNYH
2022-08-22
VNYH
Ok
NewbieEP
2022-08-22
NewbieEP
Ok

Leave a comment

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Will be looking into some healthcare covered writes this&nbsp;week. The ES futures have worked out well so far. I believe I put out the entry info in real time on this one. I got in at 4306.25 and was able to take a few off at 4206.25. That was a 5K profit/future. This was a small position (spec) so not a lot of contracts here. I have lowered the remainder stops to 4260. I seriously dislike this market but am covering my butt here. I’ll add if it goes my way. People who have never seen a crashing real estate and stock market have deluded themselves into thinking the Fed will save them. That’s a dangerous perspective. Good trading!</body></html>","htmlText":"<html><head></head><body>Sun Aug&nbsp;21 Nothing exciting on the USO covered writes. Slightly profitable. This week will be the deep decay period. See previous posts for these trade details. So long as crude stays above 85, I will keep selling weekly calls against the position. Am taking on some other energy plays as well. Will be looking into some healthcare covered writes this&nbsp;week. The ES futures have worked out well so far. I believe I put out the entry info in real time on this one. I got in at 4306.25 and was able to take a few off at 4206.25. That was a 5K profit/future. This was a small position (spec) so not a lot of contracts here. I have lowered the remainder stops to 4260. I seriously dislike this market but am covering my butt here. I’ll add if it goes my way. People who have never seen a crashing real estate and stock market have deluded themselves into thinking the Fed will save them. That’s a dangerous perspective. Good trading!</body></html>","text":"Sun Aug 21 Nothing exciting on the USO covered writes. Slightly profitable. This week will be the deep decay period. See previous posts for these trade details. So long as crude stays above 85, I will keep selling weekly calls against the position. Am taking on some other energy plays as well. 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