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Archive for September 15th, 2011

Weekly NP Strategy – SEP 23 Exp

Posted by mounddweller on September 15, 2011

Fellow Traders,

We have a total of 77 trades to consider this week for the Weekly NP Strategy.

Of these 3 caught my eye, BP, SU, and ORCL.

Let’s first consider BP.  BP like most every other stock has bounced off of its recent lows.  It closed today at $39.52 and we have the opportunity to sell the $37 strike price.  I would like BP at the $36 strike much better, but the $37 isn’t bad.  I think this might be worth a look.

Next up is ORCL.  Like BP I would be happier if we could sell the put one strike further out of the money.  With ORCL we can sell the $26 put.  ORCL has strong support at $26 but even better support at $25.

Last, but not least, we have another oil and gas company.  However, this one is a foreign operator.  Suncor is a Canadian oil sands company.

Suncor looks good at the $28 strike.  The $52-wk low is $28.12.

Well, that’s it for tonight.  I’ll be back later this week-end with posts discussing the end of the SEP expiration period and presenting a first look at our OCT opportunities.

Regards,

Troy

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