BNO short- oil overbought, again.
Updated
Purchased April 14th $35 puts today. Looking for a pullback to $26 or lower.
Trade closed manually
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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