At the top of Americans’ concerns is rising inflation, especially soaring prices for energy, filling their gasoline tanks, or paying their monthly utility bills. And investors and traders have ridden the roller-coaster rise in prices, sending futures and energy-related stocks and exchange-traded funds skyward, especially after Russia’s invasion of Ukraine.
That means it’s time to take profits in energy plays, especially for late-arriving bulls who have piled onto the panic in oil and gasoline prices. As has ever been the case in commodity markets, the cure for high prices is high prices. With oil topping $100 a barrel, one iconoclastic analyst advises traders to buy put options on soaring futures for crude and refined-product contracts, to profit on the bubble he sees bursting.
There has been a buying panic in the energy markets, says Walter Zimmermann, chief technical…
