If you are thinking about playing a bounce off today’s tape, I will advise you again to look at oil Service. Right now many of the names are bouncing as traders buy the dip. It is important to note that in this type of environment everything trades lower, but how about pairing your shorts with a few longs just incase we get that dreaded short squeeze.
There are so many reasons why I like this space at the moment, but I save that for another post.
My top three are:
I also like OA’s picks: ATW & PTEN
Disclaimer: Long TTES & HERO
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Would you consider buying TTES options? If so, what looks good to you?
i own july 80 calls, but the spreads are terrible. So no, I don’t recommend it.
ESV, july 85s look good.
Grazi. What size spread do you look for in an option?
Beware though, nothing looks safe.
Sub 500 day?
.5 – .20 cents. over .20 your begging for a nice loss if the trade turns against you.
I don’t think it will get that far down. Honestly, I see it going down about 350
i hope it ends -1000
HA! That would be a negative BTFO
Yeah, I’m hoping oil stocks will lead when the market rebounds.