Adam from the Marketclub made a free new video on the "Glide and Slide" of crude oil. Crude oil has been hammered from highs of almost $150 per barrel in July to intra-day dip of below $70 on Thurs due to forecast of lower demand as a result of recession fears. The Energy Select Sector SPDR (XLE) and US Oil Fund ETF (AMEX: USO) mirror the moves of crude oil. So if you are interested in trading the crude oil using options, you can use XLE and USO as alternative vehicle. Below is a comparison chart of USO (in blue) and XLE. Unfortunately, the charting tool is not able to reflect crude oil. You can refer to this site for free crude oil chart.
As Adam rightly pointed out, it is always faster to slide than to glide, i.e. faster to fall than to rise. Just look at the S&P 500 index. It took just 10 months for it to lose the gains it accumulated from the past 5 years.
Ok, enough said. It has been a wild wild week and hope you traded safely. Have a good weekend ahead.