ConocoPhillips COP – Options Idea
We’re running a little light this morning as we pick up for a new trading week, with no interesting earnings plays to fall back on. However, in our morning scan, we’ve picked up on an interesting play with energy giant ConocoPhillips.
The stock has been in a bullish pattern for most of the month so far, and this morning, we’re seeing a lot of oil plays bucking the trend of the overall markets, which appear to be bearish at the moment. We’re going to place a range of weekly options on watch this morning to coincide with the activity that’s currently unfolding.
Our targets of interest are going to be the COP Weekly $61-62.50 Calls.
BP, CRR, FTR, SPN, JAGX, XEC, PBR