|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.
- The Ticker: TSO
- Target Price: TBD per share
- The Trade
- Buy to Open Mar 2012 27 Calls at .71 or better
- Trade Opened: March 1, 2012
- Trade Closed: March 20, 2012
Chart courtesy Finviz. Click to open larger.
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