BNO short- oil overbought, again.

Singkat

United States Brent Oil Fund, LP ETV (AMEX:BNO)

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AMEX:BNO United States Brent Oil Fund, LP ETV

indicator bno usoilshort

Purchased April 14th $35 puts today. Looking for a pullback to $26 or lower.

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Sold put this morning on today's drop. I believe oil goes lower but we are living in unpredictable times and highly volatile markets. It's better to take a 35% profit than have it turn into a loss. If oil makes new highs fro some reason I will revisit this trade again as I have shorted oil several times on the way up.

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