How Barchart Helped Me Make a Big Return on an Options Trade in Just 24 Hours. It Can Help You Too.

A trader describes a rapid 24-hour return on an options trade tied to the USO oil ETF, guided by Barchart’s toolkit. The author emphasizes that there are no foolproof strategies, but highlights a 'great setup' identified through methodical chart review across hundreds of ETFs, stocks, and indices. USO is presented as the most liquid ETF to play oil prices, with attention to the 20-day and 50-day moving averages and the PPO as signals of potential momentum changes, even amid the Iran-related volatility. The plan involved risk management: the worst-case loss was about $600, allowing control of roughly $58,000 worth of USO through five contracts at a $116 share price, times 100 per option multiplier, with a timeframe from June 15 to July 2.