Hi Shoppers,

Oil has had a nice run trading straight up since September 27th.

The November Crude Oil futures are trading well above my trendline:

I believe they have room to run higher. My next level of resistance comes in at just over $96.

Check out the chart in United States Oil ETF (Ticker: USO):

I think USO is heading to $79 and possibly $82.

Looking at the options, I like buying the 75 calls expiring next week and to lower my initial outlay, selling the 80 calls against them:

The 75s are trading implied volatility of 43.15 and the 80s have an IV of 43.85 which provides an edge in your spread.

Trade Review

I last recommended calls in Freyr Battery (Ticker: FREY).

The stock was trading at $16 and traded up to $16.94, so there was an opportunity to profit from those calls.

Looking at the FREY chart today, it could be an opportunity to go long it on Monday if it holds this support:

I will wait for the confirmation on Monday before I enter into a long position.

Thanks for Reading … See You Next Tuesday.

Licia Leslie