PK, Seeing GLM over 16 and CAM over 40 is soooooo welcome, and at a level I haven't seen in over a year.
I am not playing with my oils stocks or making investments in new ones as I am focussing on trading semi/telecom stuff.
However......I did write GLM 15 puts for June (about 3 weeks ago...), and covered them today at 1/8, for safety of the profit from:
1) tonights API numbers (not so hot number, now that they're out...)
2) tomorrow's CPI
3) Thursday's HH testimony
4) Friday's triple witch
Any or all could croak the stock back under 15, and me being put. That being said, I think we can use a pull back here (subjectively) and I'd write July 15 puts again for GLM.
Is oil going mo-mo again? Probably, but not as exhuberant as 1997. I can't help too much with RIG, but I think Thean, Doc or Peter could guide you better. Generally, I am taking profits where reasonable. There plenty of general downside capable and some risk, as we both know.
Regards,
Steve |
