Beta-R:Journal. Risk Management: Compound .Level : PA . Time: Short-term - Intermediate . This is just my view follow if it aligns with yours. Ideas are not repeated rather updated.Worry about risk only.
ET has missed their earnings estimates all year with another announcement due today which sets up a nice opportunity for a strangle.
If they whiff again expect the downtrend to pickup more steam and drive price at least to the bottom of this descending wedge.
On the flip side if they manage to surprise, that could trigger a steep rally for this company which...
$ET Inverse Head & Shoulders - Bullish options activity today with around $12M of calls traded
See chart for possible near and medium term targets
Note: Informational analysis, not investment advice.
ENERGY TRANSFER is reaching the lower level on this complex correction. Look to the price action for a potential bounce after the completion of this WXYXZ correction.
