TS $45.08 - Tenaris
Tenaris is a global manufacturer of pipe used in oil and gas drilling and infrastructure. Business is not expected to slow. We saw a -$6 drop for the week and that triggered our entry at $46 on Wednesday.
Tenaris S.A. (Tenaris) is a holding company. The Company, together with its subsidiaries, operates as a global manufacturer and supplier of tubular products and services used in the drilling, completion and production of oil and gas, and a supplier of tubular products and services used in process and power plants, and in specialized industrial and automotive applications. It has three major business segments. The Tubes segment includes the operations that consist of the production and sale of both seamless and welded steel tubular products and related services mainly for energy and industrial applications. The Projects segment includes the operations that consist of the production and sale of welded steel pipe products mainly used in the construction of major pipeline projects. The Others segment includes the operations that consist of the production and sale of sucker rods, welded steel pipes for electric conduits, industrial equipment and raw materials, such as hot briquetted iron
Breakdown trigger: $46.00 hit 3/19
Position: SEP $50 Call TSW-IJ @ $3.40