We’re seeing a buying frenzy in today’s session, which is pushing the S&P 500 and Nasdaq 100 back into all-time highs.
It’s not ideal to chase stocks here and smarter to have a hedge in place for a pullback.
Despite the overall market being strong, the energy sector is trading lower.
That is exactly where our newest buy alert has triggered.
Here's what we're doing...
- Buy-To-Open the Suncor Energy Inc. (NYSE: SU) Oct. 23, 2020, $12.50 put (SU201023C00012500) up to $0.35 per contract or better, for the day.
This new bearish signal triggered after a $2.3 million Hot Money bet, which is a 4,732% surge in put option contracts purchased.
If shares of Suncor Energy Inc. (NYSE: SU) continue to sink lower in the coming days, our put would quickly increase into a double or triple-digit gain!
ACTION TO TAKE:
- In your brokerage account, locate the SU Oct. 23, 2020, $12.50 put:
- The symbol is SU201023C00012500.
- Make sure you choose the right options expiration (expiring on Oct. 23, 2020).
- Choose the $12.50 strike price.
- Select "put" options.
- Select how many contracts to buy.
- Once you have the right contract, click "buy to open."
- Choose "limit order." (This sets the max price you'll pay per contract).
- Use a limit of $0.35 per contract.
- Click "Day" for TIF (Time in Force).
- Then click "buy" to transmit the order.
You can also call your broker and say, "I want to Buy-To-Open SU Oct. 23, 2020, $12.50 put with a $0.35 limit or better; for the day."
Now, I’m looking forward to closing out profits from this quickly.
And I’ll be keeping you updated every step of the way.
To your wealth, freedom, and options!
Joshua M. Belanger
Executive Publisher & Founder