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Todd Gordon's Oil ETF Trade

March 20, 2017: 04:27 PM ET

On CNBC's Trading Nation, Todd Gordon spoke about bullish options trading idea in United States Oil Fund LP (ETF) (NYSE: USO).

He explained that United States Oil Fund LP (ETF) is trading at its support and he believes it could bounce off the support to test $12. To make a bullish bet, Gordon wants to buy the May 10 calls for $0.64. The trade breaks even at $10.64 or 3.60 percent above the closing price on Monday. Gordon would close the trade if the stock drops below $9.60.

Related ETF Content:

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Index Last Change % Change
Dow 20,596.72 -59.86 -0.29%
Nasdaq 5,828.74 11.05 0.19%
S&P 500 2,343.98 -1.98 -0.08%
Treasuries 2.40 -0.02 -0.74%
Data as of 12:39am ET
Company Price Change % Change
Bank of America Corp... 23.12 0.05 0.22%
Micron Technology In... 28.43 1.96 7.40%
Advanced Micro Devic... 13.70 -0.09 -0.65%
Ford Motor Co 11.62 -0.05 -0.43%
Chesapeake Energy Co... 5.22 0.13 2.55%
Data as of Mar 24

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