kmortimer2
Long

CPE - Hedged Oil Company positioned to breakout

NYSE:CPE   CALLON PETROLEUM CO
Callon Petroleum Company is an oil bounce play.

I am normally very against this but am short term bullish on this and NAT (tanker company) as far as oil is concerned.

The setup is as follows: They have uniquely hedged themselves with oil swap contracts valued $50+ per barrel. Someone deserves a bonus. This is the highest valued swaps I have heard of recently.

I'd be surprised if this thing doesn't fill the gaps up to $2 before the ER on 5/27.

Hopefully more chances below 0.80 to buy.
Comment: ER has been postponed until next monday, this is most likely the cause of the dip this morning, I recommend if you are buying today get in early on because oil is turning bullish
Comment: Was just asked about an entry point, my trading strategy kinda changed up on me this morning with the delay in ER and with how oil is acting, I am going to start to build my position around 0.75, low 0.70s look shaky territory to me, but will add as I see fit until I establish a position. This is a gift below 0.80. Trade accordingly.
Comment: In @ 0.75
Comment: Forgot to update was out on Tuesday @ 0.83, currently not holding any position here

Comments

Are you The same opinion now ? Oil its decreasing
Reply
kmortimer2 matejvendo
@matejvendo, I am sorry I did not see this earlier but complete transparency I did not like the way things were moving along and I sold for ~6% profit on Tuesday. Will look at this again today, but was in it for the potential bounce play last week with oil making a small comeback
+1 Reply
baigoya matejvendo
@kmortimer2 what are you expecting for tomorrow ER?
Reply
kmortimer2 baigoya
@baigoya, I don't know what to expect, I sold out of CPE on the bounce play last week and haven't been looking at it closely at all.
Reply
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