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March 21, 2025 - 2:47 pm
Let’s add a directional trade now that we’ve had a few weeks to collect our first set of distributions from our covered call ETFs. Keep in mind, these trades will be ETFs that we are buying with the goal of capturing directional moves at a more macro level.
The price of crude oil has dropped over both supply (new drilling opportunities) and demand (possible recession) concerns. The price of a barrel is down to about 68 now. I’m almost always a buyer of oil at any level below 70. However, I don’t think it’s going to explode higher anytime soon, so we’re going to use a leveraged ETF because upside (and downside) appears limited at the moment.
As such, we are going to buy ProShares Ultra Bloomberg Crude Oil 2x Shares (UCO).
UCO is double the exposure to crude oil futures. The most recent price is about 25.40. Let’s add it now to our portfolio.
February 28, 2025 - 4:53 pm
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