Opened: USO Nov 13th -165C/175C Short Call VerticalUnited States Oil Fund LPBATS:USONaughtyPines... for a 1.27 credit. Comments: Late post. I filled this on 10/2 for a 1.27 credit as a short delta hedge against my current USO position, but could also function as a bearish trade if your assumption is that WTI goes down from here or, alternatively, it doesn't blow through the 165 handle by expiry. Metrics: Max Profit: 1.27 ($127) Max Loss/Buying Power Effect: 8.73 ($873) ROC at Max: 14.5% ROC at 50% Max: 7.3%