Comments on: Sold New USO Naked Puts

By: trading S&P 500

trading S&P 500 — Fri, 14 Nov 2008 16:23:58 +0000

This was a good call, SPY and USO have both been rolling over together. DRYS is just getting killed today, I’ll revisit at $5.

By: Alex Fotopoulos

Alex Fotopoulos — Thu, 06 Nov 2008 01:49:14 +0000

I don’t know the exact equivalent. I typically try to peg it on percentage changes. If when oil was at $70 I thought oil could drop to $60 I’d peg USO for a 15% fall too. It doesn’t move exactly % for %, but is fairly close.
It’s not like SPY which is supposed to track the S&P 500 which moves closer to it.

By: Mark

Mark — Wed, 05 Nov 2008 18:09:50 +0000

Alex,
What is the conversion for the USO ETF to the price of crude? For example, if you wanted to buy the USO when crude hit $60, what would be the USO equivalent price?

Thanks.