Still want some oil exposure going into summer

Toward the end of February I was trying to get some exposure to oil going into summer via RIG. I was stopped out because my entry flat out sucked. Then I tried again recently with HES and was stopped out yet again. Here again I think entry is the common theme. So I think I need to make a few tweaks with respect any energy trades that I put on. One is I either need to get a better entry or I need to reduce my trade size to allow for a wider stop loss area. I can also play directionally with some limited risk/reward trades buying call spreads or selling put spreads. I am leaning towards the latter as I prefer to collect the credit when using spreads.I am currently looking to sell Put spreads on the following oil names: DVN, HES, and maybe something with USO. But I am going to sit on it and wait to see what the oil numbers are that are coming out today. I am really starting to prefer analyzing potential positions when the markets are closed as I don't feel the need to rush and put something on at the fear of not being able to get in. I really think this is the reason I have entered a few positions at bad prices. I get excited and emotional about wanting to add positions. I have to remind myself that there is no rush and there is always opportunity.

I continue to work towards a passively active trade management style. If that even makes sense. I want to manage my portfolio and be involved on a daily basis. But I do not want to be tied to the screen 24/7 watching my positions.

I will post if I make a move in any of the oil names mentioned above.

Just to keep me honest no positions will be added today. I need to analyze potential plays tonight and will get ideas ready for execution tomorrow or in the coming days.

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