USO → $125.00 by Jul 30, 2026.

I’ve been digging into oil lately and wanted to get some feedback from people who trade this more actively. I’m considering opening a put spread on USO, at the current 145 price or USO, I’d open a 140/120 spread with an October expiration. My general thesis is that oil prices are elevated right now and could come down before midterms, even if it doesn’t happen immediately. I’m not necessarily expecting a full collapse, more of a moderate pullback into the …