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Adding an Income in Oil Trade

On Monday, we took a timely dip into a bullish position in oil through a diagonal calendar spread in the SPDR Energy Select (XLE) exchange traded fund. Shares of the Energy ETF jumped some 3% on Tuesday to $80 per share pushing the value of our spread position fully in-the-money and its value from $2.75 to $3.50 in a single day.

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