It’s been a historic week so far for crude oil, which has dropped into negative territory for the first time ever. At a low of negative 40 dollars per barrel, sellers actually have to pay buyers to take delivery of oil. This is happening because there is a substantial lack of storage for oil with demand so low.
Of course, there has been a huge amount of options activity in United States Oil (USO) as a result of the huge move in oil prices. While some traders are looking for a quick rebound in USO, it looks like the biggest orders are those taking a bearish view.
Market volatility can be a blessing especially if you know how to play the game. The rules are simple and I picked them up years ago in trading pits during a previous market panic.
Now, a select group of traders and I are making money hand-over-fist inside my 'Virtual Trading Pit'. While the market has been selling off I've been racking up gains of as much a 1,421%. Click here to see how you can learn what I know inside my Virtual Trading Pit.