Buying Oil For a Rebound Steve Strazza March 12, 2025 This post was originally for paid members only. It has since been unlocked for informational purposes and does not constitute financial advice.If you're not a member, sign up here.Crude oil has been trading in lock-step with the US Dollar Index all cycle. And believe it or not, the dollar has been hit even harder than the stock market lately. DXY is down about 7% in two months.I want to bet on an oversold bounce in US dollars, and I don’t think there is a better way to do it than getting long oil.Here’s crude oil futures catching a bid at the lower bounds of a multi-year range: And here’s our vehicle, the United States Oil Fund $USO: Notice our volatility squeeze indicator crossing up in the bottom pane.I think we’re in for a killer rebound rally. I’m more interested in a quick double in this market than a big winner. This setup is perfect for it.We’re buying the $USO 4/17 $76 calls for approximately $1.00-1.20 per contract.Steve Share Article Filed Under: Breakout Blog