Should you trade oil? Now? Seriously?

Let’s keep the answer simple: Yes, with some caveats.

Here’s everything you need to know…

You need to have an 18-36 month time horizon for the investment, be prepared to sell calls (weekly preferred, monthly at minimum), and, most important, don’t panic.

Here is the current reality: Oil is under $30 and the price could go to as low as $20.

At $65, major new oil projects in harder-to-drill areas were shut down. At $45-$50 many U.S. frackers lost money on every barrel they pumped. At $40-$45, many traditional oil fields got shut down.

At $30 a barrel, no fracker is profitable on a per-barrel basis and another tranche of traditional fields is shut in.

Here’s what you can expect…