BP put sale

67 4 4
Still love this stock for the long haul. Owning down here would not scare me.
Thanks for helping us Enrich Lives!
RIG, CHK, XOM, PSX, COP and BP are all in a similar situation and needs to be looked at to get some additional income from Put Sells or just risk a few dollars by buying some of their LEAPS and putting them away for 6 months to 1 year. I would think that this strategy gives diversification, and also allows one to play oil without going too gung-ho on it. One never knows what Iran, Iraq, Saudi Arabia etc will do to bring stabiliy to Oil.
+1 Reply
Bam!! Exactly! I fully agree :)
I totally totally agree with this PUT SALE, and I have one on already. In this case, I am so bullish on BP being that I am bullish on Oil in the Long Term, that I have Put Sells on BP as well as 2017 ad 2018 LEAP Calls on them. Of course, the 2017 are not LEAPS anymore, but I had purchased them as LEAPS when BP was below 30. I am about to add more to this position, hoping that USD goes up, and Oil comes down. Demand for oil from US has been lack-luster, although I do not see less cars on the road (!). Even then with Saudi having a hiccup on raising oil prices, this think will be above $50 in no time. Of course, winter brings its on set of macro economic factors (less driving but more heating oil) for the US, and hence one has to be a little humble when it comes to Commodities and knowing the direction of it 6 months to a year from now. All I know is, that Oil is not going to $25 for a long time.
+1 Reply
Thanks man. Yep, we love following this energy giant. It's a slow and steady one for sure. NOT a get rich quick. HAHA. Appreciate your comment. :)
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