Went back in to oil yesterday. Did a covered calls with USO at 35.56 and Oct 36 calls (UBOJJ) at 1.25 for a net investment of 34.31.
Oil is off some more today. Did covered calls with USO at 34.02, Oct 34 calls (UBOJH) at $1.47 for a net investment of 32.58. My initial investment yesterday was about half of what I normally do with my SPY buy-writes, so I didn't feel too bad putting some more money down. Mostly in cash other than the USO and my other static long holdings. The market in general looks soft to me. I could see S&P 500 (SPY) dropping to the low end of its trend line channel -- which would be around 103.
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