The US Oil Fund (USO) is seeing active trading, as players jockey for position amid ongoing volatility in crude oil prices. Sentiment is mixed, with 6,400 USO calls and 6,250 puts trading in the first two hours of market action Monday. USO shares have given back early gains and moved into the red. After trading above $116 a barrel earlier in the day, crude is now down $1.25 to $113.95 a barrel. USO was recently down 71 cents to $91.97 and hit a session low of $91.79, or its lowest levels since early May.
Category: All ETFs
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.