TS - Tenaris ** Stopped **
Energy Play Updates
TS $19.49 -1.54 - Tenaris *** Stopped ***
Tenaris broke support on the large market drop on Friday morning and quickly regained lost ground to finish positive for the day. Unfortunately it was enough of a dip to trigger our stop at 18.50. I will play is again if it moves over $25.
Breakdown trigger: $20, hit 11/19
Position: JUNE $25 Call TS-FE @ 4.80, exit $2.40, 12/5
SMG $30.19 -2.17 - Scotts Miracle Gro
Lots of volatility but SMG is still maintaining its upward trend. No change in play.
Breakdown trigger: $25, hit 11/21
Position: 2010 $30 LEAP Call WOF-AF @ $5.20
DWSN $16.66 -3.91 - Dawson Geophysical
DWSN gave back the $3.50 it gained in the prior week but is still respecting support at the Nov 21st lows.
Breakdown trigger: $22.50, 11/06
Position: MAR $30 Call DVQ-CF @ $2.05
FTK $2.43 -$.58 Flotek
No change in play
Options on FTK cost nearly as much as the stock and time decay works against you. Just buy the stock. At $3 it is cheaper than any LEAP.
Position Stock of FTK @ $3.01
CLNE $4.89 +0.04 - Clean Energy Fuels
No change in play
Clean Energy is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets, fueling more than 14,000 vehicles daily at over 170 strategic locations across the United States and Canada. With the sudden surplus of natural gas it will be easier to convince companies to switch to the cleaner, cheaper fuel. The Clean Truck Program at California's ports is planning to switch out 8,000 diesel trucks for Nat Gas trucks over the next five years. This is just one program and CLNE has a major jump on everyone else.
Options on CLNE cost nearly as much as the stock and time decay works against you. Just buy the stock. At $5 it is cheaper than any LEAP.
Position: Stock of CLNE @ $4.84
HPQ $33.53 -$1.75 Hewlett Packard
Sharp dip on Friday but HPQ quickly recovered. Just passing time until the market finds traction.
Breakdown trigger: $33, hit 11/25
Position: 2010 $40 LEAP Call WPW-AH @ $5.60
VIX 59.93 +4.65 - Volatility Index
The VIX closed at the low for the week on Friday but we still need a market breakout over current resistance to really take the VIX lower. Maintain the stop at 70.
Position: JAN $50 PUT VIX-MJ @ $3.90