Trade Idea: USO / Oil (short)

We already have a USO equity short open, but I think I'll add a small speculative position, about half size (for risk management purposes) and because I always like at least 3 times more expiration than I think is reasonable, I'm actually going with the July 17th (monthly) $20 PUT. I like to have that extra time just in case something unexpected happens, we still have time to let the divergences do their work.

I posted charts earlier, but I'll add some additional ones including Futures.