Consider buying a put option on September Nymex crude oil futures.
See on the daily bar chart for September Nymex crude oil futures that prices have backed down from this week’s high as the bulls are fading. See at the bottom of the chart that the Moving Average Convergence Divergence (MACD) indicator has just produced a bearish line crossover signal, whereby the thick blue MACD line crossed below the thin red “trigger” line. Consider buying a put option on September crude oil futures, with a downside price objective of $95.00, or below. The option expires in mid-August.
