X Looks like a great Year-long PlayInfrastructure stocks surged recently and are beginning to retrace a bit. While the Stochastic indicator appears to be breaking down, the trend is strong and the cyclical nature of the stock leads me to believe that this is something I want to hold in my portfolio. For cheap plays, I'm looking to add Jan 22 25-35 calls. At 1.60 to 1.80, given the trend line projection, some profit seems assured. If any infrastructure legislation goes through, this stock could easily see 40, but even that would appear to be base-building. Have a pilot position already before it surged but will start adding some call spreads here and should we get more decline, which is quite possible as the overall market is starting to look weak, I'll add more.
I plan to update my thoughts on X throughout the year. So stay tuned.
