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April 21st, 2014 at 11:03 am
CZR/Wombat – Are you bidding the spread or the legs?
OXY/Mill – I still think oil drops and that won't be good for anyone in the sector. OXY is good in general and shouldn't have any trouble beating earnings ($1.71 for the Q, $7.04 for the year) but that isn't much growth ($6.95 last year) so the p/e (13) is a realistic price for where they are. Also, cracking $100 (now $97) will be tough for them so I'd certainly wait for a rejection there and the 200 dma is not far below, at $92 so, if that holds – then you can buy with confidence. The 2016 $80 puts are $5.60 and the $82.50 puts are $6.40 and the $85 puts are $7.25 – so it's not like you'll miss a whole lot by waiting…
Citi/StJ – It should be called "20 stocks we have too much of and need to sell." Or possibly, this is simply why I like BAC (or any other bank) way better than C if that's their top 20 list.