I sold the USO 17.5 3/20/15 Puts which were purchased for .39 @ $1.50.The Futures rallied going into today’s options expiration, with the Futures contract expiring Friday.
As long as the April stays under 44.50, Oil and the USO will remain
under pressure.
I simply took the profit on the deep in the Money Put and I stayed Long the 3/27/15 16 Puts which have less exposure to a rally.