Hedge

This from Larry Levin (or Levin the Knowledgeable):

Today's (yesterday) dollar/oil move shows just how vulnerable we are to oil spikes if the US dollar plummets because of Washington's insane spending. At one point today the dollar was down 1% and oil was up almost $4, which is fairly normal for a 1% move in the dollar. To be sure, there are other factors that affect the price of oil but dollar weakness is one of the important factors. Because oil is priced globally in dollars, sharp moves in the dollar changes the price even if demand doesn't change.

So, one way to play the number at 8:30...as a hedge...might be to take some of your profits and buy longer term (at least 2 months out) Oil calls or, for income, sell puts