Long offshore drillers Long

0.15*BATS:ATW+BATS:DO+0.69*BATS:ESV+0.41*BATS:NE+0.3*BATS:SDRL+0.51*BATS:RDC+BATS:RIG1W

Description

⋅ Oct 16, 2016 1:44 AM

Double bottom. 23.6% retrace is 08/09 low.

NE RIG ATW DO SDRL RDC ESV USO Crude Oil WTI

Comments

TF.

⋅ May 14, 2017 10:20 AM

NaughtyPines

⋅ Oct 16, 2016 4:40 PM

In a similar vein, I'm watching pricing on XOP short put options at the 32 strike and below for a laddered setup in Dec, Jan, Feb expiries (Feb not yet available). Dec expiry would be the 32; Jan, the 30 strike, etc. Currently, not enough juice in the Nov 18th 32 short put to have that as a "rung".

PKA

⋅ Oct 16, 2016 5:05 PM

I like short put on XOP if it gets to 32-33 area.

NaughtyPines

⋅ Oct 16, 2016 5:59 PM

Binary event remains Nov OPEC talks, so I'm looking to hang on to bullish positions if the proposed output cuts materialize/to add bullish positions if we get some retrace from oil at 50-ish/bbl.