The "insurance" oriented USO (oil) options bought by CCI a few weeks ago moved immediately against CCI and expired worthless this weekend. The trade can be rationalized as the cost of insurance for the energy portion of the overall portfolio. ...or said another way......I was wrong, and oil remains near $100/barrel.
No new trades in the energy space planned at this time. Although, my bias is still to beleive that several countries have the intent of keeping the price of a barrel of oil under $100 for the summer.