With over 20% move to the upside in the last 29 days, I think is time for OIH to have some sort of pullback or correction. The last 5 candles couldn't close outside of the Upper Bollinger Band, so it looks like is losing momentum and most likely retrace at least to the midline.
Implied Volatility Rank is at 54 so I sold the 28/27 Put Ratio Spread (2 Short Puts at 27 Strike Price for each Long Put at 28). And also added some juice with a Short Call at the 30 Strike.
In total I ended up with $0.40 credit for each contract.
I did 5 of those, so it would be 5x10 Put Ratio + 5 Calls.
Between $30 and $28 I would be making $200, and my max profit of $700 would be at the $27 price (around where the 20MA is). This trade will make profits between the $25.60-$30.40 Price, this gives us a 67% chance to make money.
The trade: Long (1) 28 Put Short (2) 27 Put Short (1) 30 Call Total Credit was $0.40 per contract Probability of Profit 67%