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.
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