Thoughts on $OIL and $USO, volatility plays

Watching $OIL's movement today, specifically the $28.10 level holding. We've seen a bounce off that, currently sitting around $28.42. For options, the interesting bit is if this holds as a short-term floor. If it breaks decisively below $28.10 and continues, the current minor bullish sentiment from the bounce is invalidated, suggesting further downside and making selling out-of-the-money calls less appealing unless one has a stronger bearish conviction. Conversely, if it can consolidate above $28.40-28.50, we might see more interest in slight out-of-the-money call spreads or buying shorter-term calls on $USO for a directional play, though the volatility is still there to eat premium.