which energy company most closely tracks Oil prices?

Quote from Old European:

Why don't you directly work with (options on) crude oil futures?
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Good point. I only have experience with equity options and I have no experience with options on futures so I'm just trying to stick to what I'm familiar with.
Are options on crude oil futures also subject to the 60/40 tax treatment like futures?
 
I bought a bunch of Jan 08 VLO 50 calls. I feel it tracks oil pretty closely. Bought 'em at 6.47, but not sure I'd pay more than 7.25 right now. Given the recent strength, I'd wait if I were you.
 
don't buy USO, it's the worst ETF out there because it doesn't track the spot underlying but the futures which have to be rolled over every month.
 
FYI, I spoke with Jim over at USO, he said USO options should be coming within the first quarter hopefully. They are working with the SEC. We'll see.
 
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