Oil ETF Call Trades Soar to Record Amid Egypt Unrest
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In light of firebombings, riots, and anarchy in Egypt, coupled with social unrest in Yemen, Jordan, Algeria, and Saudi Arabia, call options of those betting on higher oil prices soared to seven times normal activity on Friday.
This weekend we saw the closing of Egyptian banks and the announced closing of Egyptian stock markets on Monday. However, it is hard to know what will happen next week.
To help understanding the possibilities, please consider this analysis of Friday's crude action.