Webinar/Micro - I didn't write them down but I like UCO July $5/9 bull call spread at $1.35, selling the Jan $5 puts for $1 for net 0.35 on the $4 spread.  

USO has less decay so safer to sell puts on though there is some decay over time.  Jan $13 puts can be sold for $1.25 to pay for the UCO play or you can establish a similar spread in July with the $14/18 bull call spread at $1.85, which would be net 0.60 if played with the short puts.  

Oil may still have a bit more to fall but, if it doesn't, you might miss one hell of a buying opportunity so I'm for scaling in at these levels ($44.25 on /CL).  

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