Crude Oil falls ~4% today

Support: $38 support.  Resistance:  $51. Bullish interest outgrows bearish bets.

Explanation:  Volume in calls was highly increased (77%), new positions grown 36% mainly at the $60/$61 strike level. The most traded strike was $51.  On the other hand, volume in puts was highly increased (63%) but new positions grown at only 4% mainly at the $35/$36 strike level.  The most traded strike was $38.

Note: The earlier was inferred by glancing puts and calls quotes from December 4th and 7th in the CLF16 contract.

 

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