USO - added to the short
I added to the USO short today, and will keep increasing the short (slowly).
It is now overbought (not severely), but the momentum is still in favor of the longs. I am trying to be a step a head. When it gets really overbought I will go heavy.
There have been too many changes with the fundamentals to justify a continued run up. (The fundamentalist in me want to short the crap out of it, but the chartist in me tells me to wait until a really overbought condition develops.)
I used the 113 Oct Put (the first one traded was mine) 
But I may use a higher strike price Oct puts when I go heavy, depending on where the USO price is at that time.
