Sunday, March 20, 2011

Focus on oil ETFs and ETNs this week.

The unrest in Libya continues and actually escalated even further due to the international military intervention. This got to have a severe impact on oil prices, that I'm going to keep a close eye on this upcoming trading week.
Japanese markets seem to have stabilized a bit because of the decrease of nuclear threat levels, so it's all oil for me this week. Therefore I'm putting my focus on oil ETFs and ETNs. The biggest one of them all being '^OIL' (ETN) and ^USO (ETF).

Let's take a look at the charts;

Given the fact the ^OIL reached $28.36 (and that was before the international community decided to intervene in Libya) there is a good chance that rising oil prices could occur this upcoming week.

Same goes for the ETF ^USO which could turn out to be even more volatile, I expect it to break through 42 levels upcoming trading week, by Fridays closing; a perfect opportunity to take a in-the-money call option for 42 for March 25th. 

I highlighted 42.00 (interestingly enough the option with the highest open interest)

Other Oil ETFs/ETNs

  • United States Oil Fund (USO)   
  • FactorShares 2X Oil Bull/S&P 500 Bear ETF (FOL)    
  • Goldman Sachs Crude Oil Total Return ETN (OIL)
  • PowerShares DB Crude Oil Double Short ETN (DTO)
  • PowerShares DB Crude Oil Long ETN (OLO)
  • PowerShares DB Crude Oil Short ETN (SZO)
  • PowerShares DB Oil Fund (DBO)
  • ProShares Ultra DJ-AIG Crude Oil ETF (UCO)
  • ProShares UltraShort DJ-AIG Crude Oil ETF (SCO)
  • Teucrium WTI Crude Oil Fund (CRUD)   
  • United States 12 Month Oil Fund (USL)
  • United States Brent Oil Fund (BNO)
  • United States Heating Oil Fund (UHN)
  • United States Short Oil Fund (DNO)

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