United States Oil Fund (USO)

[jrf30]

Then sell the $10 puts. Not buy them, but sell.

You get PAID to say the same thing you just said. Sell the October $10 puts (10/21) and get $.48 per share. Only two things can happen. On October 21 it is above $10 or it is below $10. If it is below $10, you own it. At $9.52 per share. As it is, if it went down to $9.70 or so, you'd probably be a buyer anyway, right? SO you own it at $9.52 instead. If it goes up instead of down? If you are just waiting for it to drop to buy, you are out. With the put, you MAKE $.48 per share and it expires. So you are paid to say you would have bought it at $9.52 net, and you make money when it goes up. Or you own it at a good price if it goes down.

I sell the puts every time it gets down here. And when it gets put to me I sell the calls to say I'll sell it where I want. I have a bunch of calls and puts expiring today. And since it is right at $10, all shall be positive for me.