Stocks are flat coming off the 3-day weekend, but the energy sector is strongest after prices jumped higher as millions have been left without power in Texas and other states.
The oil sector has been a laggard, but we are starting to see money rotate into the sector and our newest buy alert.
Here's what we're doing...
Buy-to-open the BP p.l.c. (NYSE: BP) June 18, 2021, $24 call (BP210618C00024000) up to $1.75 per contract or better, for the day.
Our monitor triggered this new buy alert after detecting a directional $6.3 new money bet in the June expiration that shares will continue to move higher.
Now, we’re going to manage our risk by setting our profit target at $2.20. and our stop-out price at $1.05 per contract.
And I’ll be keeping you updated every step of the way.
To your wealth, freedom, and options!
Joshua M. Belanger