BUYING DIPS INTO STRUCTURE PRICE IS SEARCHING FOR HIGHER BALANCE
DESCRIPTION ON CHART CONFLUENT AREA...... PRICE ACTION ENTRY: BUY BREAK ABOVE THE HIGH OF THE LOW BAR... LOGICAL TARGET : 13-16 "TIME IS IN"
With an implied volatility rank of 98 and an implied volatility of 79, MRO presents a good covered call opportunity here with a return on capital of greater than 10% if called away at the nearest short call strike (13). Here's the setup (which, as always, may require tweaking after NY open, since these off hours quotes have a tendency to have wide bid/asks): Buy...
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