Congrats on getting DVN calls.
Bought a few more calls today - some DVN, some RRI May 7.50, and some WMB calls.
The RRI has a pretty good chance of working, risk is that RRI doesn't move up to $7.00 before May. If it doesn't move fast I will need sell this soon or time decay will kill me. The WMB is speculative - very good conference call, if they can execute, stock may jump.
WMB wants to sell some natural gas properties - should get a god price.
Also, I expect that as soon a one UTE/IPP successfully re-finances, all the beat-up stocks the whole sector move up.
Also bought some more CRK (samll cap NG E&P, high leverage) and NCN becaused they are unhedged.
Since NG prices and stocks moved up a lot today, I wouldn't be surprised at a pull back in both on Monday or Tuesday.
Might be another opportunity.
I was early on some of these, buying calls (like BR, DVN,ECA) about 2 months ago and seeing nothing happen.
Now that Wall Street is aware of the natural gas opportunity, we could see the stocks move up one of two ways:
Smoothly, like NCN -
Or choppy stair steps.
I bet we get choppy stair steps -big move, bounce a little, then nothing until the next big move. Useful to exit or cut back the position right after a big move, or time decay
will eat up profits. This has happended to me a bunch, so I 'm talking to myself. I really like to let profits run, and that may not be the best thing as expiration gets closer. |
