looks like decision time for WTI, the Daily wedge is about out of time & $19 base has been tested and support seems to be established. A break back to the 200 ema on D1 would be a massive move for the oil sector and return the markets to normal business as usual levels
R/R long term is looking so fav to bulls I had to enter.. Looking to hold for years this company has been around for the best of time and worst, no it is time for oil markets to stabilize and WLL to return to a rational price. I can see $90 by 2023 Imo great buy.
RSI looking good as well (parabolic curve showing strength).
Seems like one of the best plays if you would like to play the oil sector right now. Carlyle and Riverstone are considered the best in the oil industry
Took a quick glance at Whiting Petroleum Q1' 2019 to see if there was a special reason they have been extra decimated in the past year, including losing half their stock value in just about 2-months. Whiting in a Williston basin focused producer who primarily does business in North Dakota. Q1 results showed that Whiting, a Bakken shale producer, saw a 3% drop...
Look @ yellowish lines and you can see the same pattern forming. Oversold RSI and green bottomer exactly the same levels as Feb dip & rip.
WLL is in bull trend and in this trend, before touching a new high it would retrace to 38.2% level. Target:- 36.19
WLL seems to be breaking higher today! If above 30 very constructive for further strength.
Ugh. Doing my weekly market review/screening and there is literally nothing high IVR/high IV to play ... . Nada ... . Zilch ... . One option is to sell puts in one of these "just high IV" underlyings: VRX: April 21st 11 goes for .56 AKS: April 21st 7 goes for .31 AMD: April 21st 13 goes for .66 WLL: April 21st 8 goes for .28 CLF April 21st 8 goes for .34 X:...
With oil rising this looks ready for another rise, also cup and handle pattern has formed. I am very confident on oil rising to $58 or $68, see related idea.
WLL had a retest gap today. Looking to buy the dip as it retests the gap. best part about the trade is that the stock will have to break through all ema's except for the 200 in order to hit the stop if triggered.
Did this at open, after which the underlying tanked ... . Heck, what hasn't tanked in today's market. In any event, continuing to work this sub $10 high IV underlying here. Metrics: Bought 100 Shares at 7.48 Sold Oct 21st 8 call Whole Package: 6.94 debit Max Profit: $106 ROC: 15.3%
Decent edge. LOD break / retest. I want this trade to be up 1R in at least an hour, otherwise, I'll exit.
Bought shares at 7.50; sold the Sept 30th 8 call; filled for a 6.93 db; max profit $107 (if called away at 8) (15.4% ROC). Not to jinx it, but it's highly likely that I will be unhappy with one or more of these little fellas that I put on today ... .
Here are my candidates for covered calls next week. Right now, they're based solely on ROC metrics, the key being to get at least a 10% ROC if the shares are called away at the short call strike. Additionally, the focus is on sub 10.00 debit plays; underlyings of higher dollar value are generally more amenable to other strategies. After looking at the charts,...
Here's my "short list" for covered call candidates for next week generated by looking at Barcharts.com high volatility stock options list and the Dough grid: WLL buy shares at 7.66; sell Sept 16th 8 call; 7.10 debit; $90 max profit (12.7% ROC) CC buy shares at 11.45; sell Sept 16th 12 call; 10.78 debit; $122 max profit (10.6% ROC) LC buy shares at 5.40; sell Oct...