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Straddle with TSO: Range-Bound!
Short
Straddle with TSO: Range-Bound!
By nodiggity
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Updated
Sep 8, 2016
1
Cheer
Cheer
Aug 10, 2016
There are two ways to trade this. One is to short TSO to $73.40, and if the resistance holds, go long until $77.90. That's too risky.
You can do that, but I'd rather play this as a straddle. Sell the $70 puts (1.25) and $80 calls (1.31) September calls.
Max Profit: $256 per option.
Aug 30, 2016
Comment
Everyone make money today? Good.
Sep 8, 2016
Comment
Wow that ripped past resistance. SLD at resistance. Don't be greedy!
options
refiners
straddle
TSO
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