71 on shorting oil

[BYU71]

Originally Posted by FMCoug

Just looked and there is action on USO puts as far out as July. The July 68 puts have some decent open interest and closed at 2.94.

However, doesen't USO track oil company stocks, not the commodity itself? I don't know jack about commodities.

You might be right on the USO. I noted it was tracking oil prices yesterday, but oil stocks might have been down too. I will look today.

[BYU71]

Originally Posted by FMCoug

Just looked and there is action on USO puts as far out as July. The July 68 puts have some decent open interest and closed at 2.94.

However, doesen't USO track oil company stocks, not the commodity itself? I don't know jack about commodities.

I read the profile on yahoo. It appears it attempts to track the oil market itself, not stocks. It mention West Texas Intermediate light crude (WTI) whatever the hell that is. With all the ETF's out there I wonder why they don't have one that tracks crude oil we see quoted on the time in the press.