There are several ETFs (USO, OIL) that are designed to track the price of oil. An interesting thing about oil is that it will never go to zero. In fact, it is hard to believe that it will ever drop much lower than it is right now. Given its limited downside it seems like a good defensive investment.
21-March Stock is now at 30.81 Credit to close out 28.25 --gain of about 2.75. As usual, when the stock goes up, it is always a time to wonder if covered calls are such a great idea--I would have had a gain of 5.35 without the call.
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