Add RIG Calls
Playing Oil Momentum
PLAY: Buy the RIG April 85 Calls (O:RIG 10D85.00) at or under $2.00, good for the day. Place a protective stop limit at $1.10 and a pre-determined sniper sell at $3.00.
Dear Bottarelli Research Member,
Good morning. All week long, my staff and I have kept a sharp eye on the oil service providers, waiting for an ideal entry opportunity. Within this group, our two favorites are Transocean (RIG – NYSE) and Dril-Quip (DRQ – NYSE). You can see both charts below:
Looking specifically at RIG, a move above the $84.00 level, which we’re seeing today, could lead to an extended upside push towards $86 (and above). As oil prices continue to climb, it’s worthwhile to jump on board this upside momentum now. Here’s the play…
PLAY: Buy the RIG April 85 Calls (O:RIG 10D85.00) at or under $2.00, good for the day. Place a protective stop limit at $1.10 and a pre-determined sniper sell at $3.00.
And as always…
Lock and load!
Sincerely,
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