Looking at the VLO Valero Energy options chain ahead of earnings , I would buy the $143 strike price Calls with
2023-2-3 expiration date for about
$4.20 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
Break out from the descending wedge looks imminent, after weeks' consolidating in a tight range.
Current position: None (as already heavy in PSX)
Disclaimer: These should be seen as the commentator's Notes to Self. Hopefully educational but aiming for entertaining. No legal or financial liabilities should be pursued from these materials.
VLO is approaching resistance at 91.88 (horizontal swing high resistance, 100% fibonacci extension, 38.2% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 78.04 (61.8% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
VLO is approaching our first resistance at 82.84 (horizontal overlap resistance, 23.6% fiboancci retracement, 61.8% fibonacci extension) where a strong drop might occur below this level pushing price down to our first support at 70.05 (horizontal overlap support, 100% fiboancci extension, 50% fibonacci retracement).
Stochastic (21,5,3) is also approaching our...
VLO is approaching our first support at 70.05 (horizontal pullback support, 100% fibonacci extension, 50% fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 82.84 (horizontal pullback resistance, 61.8% fibonacci extension, 23.6% fibonacci retracement).
Stochastic (89,5,3) is also approaching...
