Took a quick glance at Whiting Petroleum Q1' 2019 to see if there was a special reason they have been extra decimated in the past year, including losing half their stock value in just about 2-months.
Whiting in a Williston basin focused producer who primarily does business in North Dakota.
Q1 results showed that Whiting, a Bakken shale producer, saw a 3% drop...
Ugh. Doing my weekly market review/screening and there is literally nothing high IVR/high IV to play ... . Nada ... . Zilch ... .
One option is to sell puts in one of these "just high IV" underlyings:
VRX: April 21st 11 goes for .56
AKS: April 21st 7 goes for .31
AMD: April 21st 13 goes for .66
WLL: April 21st 8 goes for .28
CLF April 21st 8 goes for .34
WLL had a retest gap today. Looking to buy the dip as it retests the gap. best part about the trade is that the stock will have to break through all ema's except for the 200 in order to hit the stop if triggered.
Did this at open, after which the underlying tanked ... . Heck, what hasn't tanked in today's market. In any event, continuing to work this sub $10 high IV underlying here.
Bought 100 Shares at 7.48
Sold Oct 21st 8 call
Whole Package: 6.94 debit
Max Profit: $106
Bought shares at 7.50; sold the Sept 30th 8 call; filled for a 6.93 db; max profit $107 (if called away at 8) (15.4% ROC).
Not to jinx it, but it's highly likely that I will be unhappy with one or more of these little fellas that I put on today ... .
Here are my candidates for covered calls next week. Right now, they're based solely on ROC metrics, the key being to get at least a 10% ROC if the shares are called away at the short call strike. Additionally, the focus is on sub 10.00 debit plays; underlyings of higher dollar value are generally more amenable to other strategies.
After looking at the charts,...
Here's my "short list" for covered call candidates for next week generated by looking at Barcharts.com high volatility stock options list and the Dough grid:
WLL buy shares at 7.66; sell Sept 16th 8 call; 7.10 debit; $90 max profit (12.7% ROC)
CC buy shares at 11.45; sell Sept 16th 12 call; 10.78 debit; $122 max profit (10.6% ROC)
LC buy shares at 5.40; sell Oct...
This has been on a relentless selloff for nearly 2 years, oversupply is currently in place, but if that changes with OPEC etc then demand may return (albeit temporarily), to start up a mini bull market for oil but we doubt it will go much higher that $45.00 in the near future and in fact maybe lower lows.
3-5 And here we are today with yet another
energy stock building a Bull channel in green.
What do I need to see to make me get long?
An upside crossover of the green line that's what.
THEN one could place a stop on any break below
the blue line of line of one's choosing. The top blue line
is a tighter stop and IF IF IF an issue is going to go
after breaking out...