This story was originally published here.
The economic impact of the coronavirus outbreak is more apparent after the Dow Jones Industrial Average posted a more than 400-point loss Wednesday. And the oil market is absolutely tanking.
But while everyone's focused on the pandemic shutdown, we're uncovering a way to cash in on oil.
These are uncertain times, and that's starting to reflect in the markets, with big banks like Goldman Sachs Group Inc.'s (NYSE: GS) and Bank of America Corp.'s (NYSE: BAC) profits down more than 41% from the same quarter in 2019.
You already knew this was coming. We've been calling the “dead cat bounce” for weeks.
So now is the time to buckle down and make something of what you know. We have an options trading strategy that's already earned readers more than 1,000% this year. And it could work again.
Tom Gentile, options trading specialist at Money Morning, has already predicted a few of these in 2020.
In February, he highlighted an April 17 $40 put option on Carnival Corp. (NYSE: CCL) cruise lines. It popped 1,781% by March. And in just three weeks, the option went from $1.60 to $30.10.
Based on Tom's insights, we also recommended an April 17 $10 put on Marathon Oil Corp. (NYSE: MRO) that appreciated 382% around the same time.
Now, the markets don't look the same as they did in February or March. In fact, they look different day-to-day.
The CBOE Volatility Index (VIX) is still above 40, with the 2020 average around 32. That average is twice the 2019 average of about 15.
There is more than twice the uncertainty this year as there was last year. But as long as we acknowledge that and stick to the few things we actually do know, you can still profit trading options.
Editor's Note: Click here to keep reading. But look below for an urgent message about Tom.
Legendary Trader Reveals ALL His Secrets for the First Time
He's not your ordinary stock market millionaire…
Thirty years ago, Tom Gentile had an idea that would change his and his family's lives forever.
It's called “The Money Calendar.”
“It's like shooting fish in a barrel…“
Since discovering The Money Calendar, Tom has made millions on the stock market.
In the last 24 months, Tom's trades could've paid out $999,195.
And in the following presentation, he's going to show you how…
In three simple steps…
He'll make $1,050 in 15 seconds.
You have to see it to believe it.