![XLE](http://optionsappetite.com/wp-content/uploads/2018/11/XLE.png)
Oil is on its butt. Crude is closing in on $50 a barrel as it continues to tumble in the backdrop of rising inventories in the US. But I very much doubt that behemoths like Russia and Saudi Arabia are going to let the US sink the price of the black stuff much further. There are rumors that OPEC is close to making a stealth cut. I'm a contrarian at heart, so I have no problem selling the XLE $61 puts in Jan '19 for around $1.20. The trade has close to 90% probability of reaching 50% max profit before expiry.