×

Trader: Less risky way to play an oil bounce

Steel waits to be processed on the Continuous Annealing Line (CAL) at the PRO-TEC Coating Co. facility in Leipsic, Ohio.
Jeff Kowalsky | Bloomberg | Getty Images
Steel waits to be processed on the Continuous Annealing Line (CAL) at the PRO-TEC Coating Co. facility in Leipsic, Ohio.

Halftime Report trader and chief market strategist at Virtus Investment Partners, Joe Terranova, added a position in a steel producer Wednesday morning as a way to play a potential bottom in oil and a correction in the strong dollar.