CLR just had a major hit in Lodgepole along with their readings of another pool , stacked-type, below other pools in Bakken.  You can read about the news on; BakkenBlog.com, then press news. DYODD..I own this.

I have not. I had a limit order in to buy KEG at 5.50 and it never filled. Probably should have sold the August 7.50 puts. They were probably worth about 1.50 when I posted. Do you see how that would have worked? 

Let's say you sold August 7.50 puts on August 11 for 1.50 (that's reasonable since the stock was at 6.15 on the August 11 close, so the August 7.50 put had 1.35 of intrinsic value, plus some time value). The stock closes at 6.89 on the 21st and gets put to you at 7.50. But the real cost is 6.00 because you pocketed 1.50 on the option trade (7.50 – 1.50). So now you're holding a stock that you paid 6.00 for at 6.89…you're actually up .89 cents. Pretty slick, eh? That's one way you can "buy" stock selling puts.

Of course, you could have sold the August 5.00 puts (for much less premium) and the stock would not have been put to you. You would have had to "settle" for putting the option premium in your pocket……oh well. You could also have pocketed the premium and simply bought the stock on the Monday following expiration, again lowering the cost of the stock purchase by the amount of the premium you took in on the put option sale.

GLBL would have been a good one to do this with because it never pulled back. I still like both of these on pull backs, but I've gotten very particular about what I'm buying. Selling puts to make the stock "put up or shut up" may be a good way of buying these and other stocks where you want to play hard to get.

What do you think of the HNR chart? It has dropped off my list. Do you see why? 

Enjoy your Sunday.

Thanks for update I check the site and find out every type of news. Thanks for sharing. I also appreciated the reply of your post, that is also too informative and interesting.

I'm still holding, hell 0.02/share can't hurt that much and the high could be wonderful.

Darrell:

Can you cut and paste the link to the article you referred to. I can't find it?

Will

ROSE is a good company but overpriced in my estimate, with Nat Gas being the major plays at this time, I don't see any reason to buy with so many other producers out there at cheaper prices.

Another new oil formation for North Dakota?
Geologists look at the Birdbear, another ND oil formation to be tapped with new technology

This looks like a secondary or tertiary formation for the oil companies, but ND looks more and more promising.

Btw, I think one of them birdbears crapped on my car the other day.

Post edited 4:32 pm – November 24, 2009 by spreadtrader

Those are good points Darrell. I'm looking at oil with a longer term horizon (several years if my dollars last that long ). I like EC between 22.00 and 24.00, it presently trades just under 26.50. I like it because it is pretty well integrated from production to piping and refining. It's not paying U.S. wages to its employees and it has a 5% yield at my target purchase price range. It's state owned (Columbia) and has no options…….but you can't always get what you want.

Presently, it's overbought but it looks like it could drop some……like I said, 22.00 – 24.00 abd if it does that I'll be on it. If it doughnut go there……….. I'll pass. There are lots of stocks.

……and don't forget BEXP, GTE, GPOR, NOG………and Rudolph.

Looks good too……….. as do GST, REXX, SFY and SGY. All are optionable, none are trusts or L.P.'s.

I don't know any specifics, but it wouldn't surprise me if strength was based on the pump and not on any corporate achievement.

spreadtrader said:

GLBL would have been a good one to do this with because it never pulled back. I still like both of these on pull backs, but I've gotten very particular about what I'm buying. Selling puts to make the stock "put up or shut up" may be a good way of buying these and other stocks where you want to play hard to get.

There was unusual activity in GLBL on the 15th and 16th of Sept. This is one of the stocks in my universe. The activity coupled with an almost upthrust I call it an upthrusty instead… with the divergence of CCI and williams% is a definite change in direction. And the confirmation of MACD in a couple days would make me relax a bit. My next potential end (divergence) on Sept 30 which was an upthrust day so down still in order. out Oct2 on divergence w/also Doji. (@ open on 3rd). no unusual options so down might still be on but I'd be out.

Oct 19 unusual again..watch… upthrust on 21st.. divergence 22nd in @ open 23rd… YAHOOOOO! div 26th no thrust or doji or options activity MACD still down …stay down. next div Nov 2nd dnthrust Nov3rd out open Nov3rd as normal, BUT… unusual options activity on Nov2rd with upthrusty AND divergence @ open 3rd is back in down! unusual nov9th w/doji & 10th say down w/div Nov10 say still down next Divergence Nov12 w/ no unusual or thrustys out Nov13@ open. Nov 25 unusual…watch… a downthrust Nov30 and divergence Dec2nd AND upthrusty AND unusual activity in for another down ride @ open Dec3rd.

I just happened upon a couple of your posts and GLBL was mentioned. I knew it was one of my universe of stocks so had a look.  WOW, probably couldnt find a better example of my strategy anywhere! I've booked it in my files! Is there a way to view all of your posts? I just signed in today and havent found it yet.

Keep up the good posts, I will try to be on here now and again, but work/volunteering and programing my system to be automated, I hope by Feb.. lol, keep me pretty busy.

Cheers, BillyBob  

spreadtrader said:

Looks good too……….. as do GST, REXX, SFY and SGY. All are optionable, none are trusts or L.P.'s.

SFY unusual (both puts and calls)on Dec2nd AND divergence indicate a change, but what IS the trend? I'd pass for now. Only one in my world.

BBJ

too late to buy BEXP or USEG?

rbcn, thanks for pointing out ROSE. I've traded it profitably a few times. It was floundering recently and got unfloundered after they released their financial statements.

Post edited 3:27 pm – March 10, 2010 by shredmonster

Dorsey has a bearish price on CLR of $32.00 with 3 out of 5 on technicals and dropping.  Bear confirmed in all relative strength catagories.  They are suggesting long term weakness.

XTO on the other hand looks extemely good – I might have to get some myself.  They are in a trading band / triangle but looks like they could break to the upside. 

BEXP is kicking it.  Too late to get for me I think.  Made money on this one last year and missed it as of late.

NOG looking very good also  as is WLL.

I am currently watching GBG and SWC.