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Top Trades for Thu, 14 Sep 2017 10:29 – SCO

FTR/Jabob – Only down 0.33 so far on paying an 0.60 dividend.  Happy to collect the money on our shares.  

  • U.S. crude oil hits $50/bbl for the first time in five weeks, extending yesterday's strong gainsafter forecasts for stronger oil demand by the International Energy Agency; energy stocks (XLE+1%) open strong as WTI currently +1.5% at $50.05/bbl after gaining 2.2% yesterday.
  • WTI popped above its 200-day moving average level of $49.55 earlier in the session, a level it had not breached on an intraday basis since Aug. 10.
  • Brent crude now +0.9% at $55.69/bbl for its highest since April, after rising 1.6% on Wednesday.
  • The gains followed an IEA report which raised its estimate of 2017 world oil demand growth to 1.6M bbl/day from 1.5M bbl/day.

SCO/JMD – Sure.  We can assume the nonsense will be over by Nov (but before Thanksgiving has another rally) and SCO is a good way to play that.  

In the OOP, let's add: 

  • Buy 20 SCO Nov $33 calls for $4 ($8,000) 
  • Sell 20 SCO Nov $39 calls for $1.80 ($3,600) 
  • Sell 10 SCO Nov $35 puts for $3 ($3,000) 

That's net $1,400 on the $12,000 spread that makes money as long as oil is under $50 in November.  Upside potential is $10,600 (757%) in 64 days.  That should pay for our Christmas shopping and also makes a nice market hedge. 

In the STP, let's do the same spread but with 50 bull call spreads and 25 short puts.  


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