Crude’s Big Round $80

Both in yesterday’s regular session and in this morning’s overnight session, crude oil (CLX14:NYM) tested and found support twice at the $80.00 area and has bounced to a current price of $80.50. With the recent volatility in crude oil at retest of that big $80 price could be tested again today, so I will discuss two possible strategies depending whether you think $80 will hold or fail on the third test. What I want to look at today is the Nadex Daily Crude Oil (Nov) $80.00 binary option, based on the CLX4, which will expire today at 2:30 EST. When CLX4 trades again to $80, this option will be trading at $50.00. If I believe that crude will hold that level into the close, I want to buy that option at a price of $50.00 or lower;

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Crude’s Big Round $80

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