Breakout in Oil Refiners (TSO)

Breakout in Oil Refiners (TSO)


This Trade Was Closed March 20, 2012

Waited too long to sell this at a profit. Closed this trade @ .40

Original Trade Post:

Oil Refiners are showing some strong strength relative to the broader market today. Valero is a standout, up 2.65% on the day. I see some topping processes carrying out in the Integrated names like COP and XOM, and maybe the next oil derivative trade is in the Oil refiners. I like what I am seeing in Tesoro today. A break above trendline that started a downtrend on Feb 28th, is showing some force. The break-out occurred, the stock pulled back to the trendline, and buyers came in and pushed the stock back above the trendline.

Trade Details

  • The Ticker: TSO
  • Target Price: TBD per share
  • The Trade
  • Buy to Open Mar 2012 27 Calls at .71 or better
  • Trade Opened: Mar 1, 2012
  • Trade Closed: Mar 20, 2012

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Additional Image Provided by eatlovetrade:

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