NEW DIRECTIONAL CALL PLAYS

Phillips 66 - PSX - close: 65.77 change: +0.09

Stop Loss: 63.75
Target(s): 69.75
Current Option Gain/Loss: Unopened
Time Frame: 3 to 6 weeks
New Positions: Yes, see below

Company Description

Why We Like It:
Oil refining stocks have been showing relative strength. Shares of PSX have rallied to all-time highs near resistance at the $66.00 level. Traders could buy calls now but I am suggesting a trigger to buy calls at $66.15. If triggered our short-term target is $69.75. More aggressive traders could certainly aim higher.

Trigger @ 66.15

- Suggested Positions -

buy the Apr $67.50 call (PSX1320d67.5) current ask $2.00

Annotated Chart:

Entry on March -- at $---.--
Average Daily Volume = 3.9 million
Listed on March 05, 2012