As money continues to wiggle around from sector to sector the energy trade we spotted has really been on the winning side of those moves. Here is the article where we spotted a very sweet set up and shared the chart. At the time The target was a move to 250 based confirmations in multiple indicators. The call options about a month out at that time were sitting in the mid $5 range. Since then it has behaved very well and the underlying is sitting at $257 right now, up from $235. That nearly 10% move isn’t bad but the big win was in the call options. Here is the chart:

Those call options jumped over $20 and are still sitting above $15. Now it has pulled back after touching the most recent high around 270. Even after the reset at the beginning of July this ticker is still in an overall bullish trend. Definitely some more opportunity here but we are going to look for it to define the short term move in the next day or so.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily