Skip to main content
Oil Prices and Oil stocks
April 3rd 2020 oil stock trading idea with covered calls
If anybody is observing Oil stocks , ETFs.... seems like whole sector is way oversold and ready to stabilize on rising oil prices.
I don't think price of crude
will go back to $20 per barrel ...and some smaller regional companies
like Sasol (SSL) might have a problems with debt and staying afloat but major
players IMO will start to consolidate global industry and try to enter
in local markets by buying out smaller fish ? At the moment I am just
observing oil stocks, but when I am ready I will be selling covered
calls against some of oil blue chips shares ?
Obviously I was wrong about oil when prices went down to teens, single digits and then below ZERO to achieve lowest price level ever at MINUS -$51.00 !!!... but seems like oil stocks like XOM, SSL held pretty well and were trading well above all time lows , that makes me me tempted to SELL cash secured out of the money PUT for nice 10-15 % premium.. ?
ReplyDelete