Oil Rig

Today we are applying a Bull Call on Oil Search Limited (OSH).


OSH is currently trading at $7.80.

Recently OSH has been trading in a short term ascending channel, and with today’s positive price action we may expect OSH to head to the next resistance level of ~$8.12.

We will probably need to see a continued move higher in oil prices for this to occur, but just looking at OSH’s chart, we could assume it’s likely to reach our target.

We can trade a Bull Call to try and take advantage of the expected bullish move, and because the strategy is time decay positive, we have time on our side to wait for the move.