Price Action
The price hovered around the $235 level and briefly touched $240 and $232. A relief rally is no where to be seen. The downtrend looks likely to continue with a test of $230. $230 will be a hard fought level, if $230 breaks $210 is the next major point of resistence.
Trade Idea
With 30 day historical volatility at depressed levels, buy BVOLJ15 anticipating a pickup in volatility as the price continues to break key downside resistance levels.