Here's one way to play oil long:  UCO is back at $7.92 and you can buy the July $7/10 bull call spread for $1.10 so just 0.18 in premium on this 2x ultra.  You need a $2 move or 25% which is 12.5% on oil to $55.70 to be 100% in the money on this one, which would be up 172% if it sticks.  Over the last year, UCO is only down 77% with oil down 50% so I think it's worth the risk of also selling the July $6 puts for 0.80 to net into the trade for just 0.30 with a max return of $3 (1,000% return on cash).  Since I have no problem being long $30,000 on oil at $45, let's do 50 of these in the LTP.  It costs $1,500 and pays $15,000 if all goes well.