SUN

Bought SUN AUG22.5 PUT SUNTX $1.15 for protection. Order filled.

Original post on trade: Click Here

SUN

Bought a position in SUN @ $22. There are bullish divergences on the stochistic, MACD and directional. The refiners have been way oversold.

I have placed a stop at $21.45 which was Wednesday's low (07/08). Looking for a target to $26. Adjust stop to $24 if we reach $24 or higher to lock in profit.


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Goldman Sachs lowers view on Oil Refiners to Cautious (VLO, SUN, TSO)

We have done CSP's on these. Just wanted to mention that Goldman Sachs lowers their view on Oil Refiners to Cautious, citing an "ugly" outlook for the group. The firm reiterated their Sell rating on Valero (NYSE: VLO) and downgraded Sunoco Inc. (NYSE: SUN) and Tesoro Corporation (NYSE: TSO) to Sell.

The firm started coverage on Western Refining Inc. (NYSE: WNR) with a Neutral rating and reinstated coverage on CVR Energy, Inc. (NYSE: CVI) at Neutral.

The firm upgraded Marathon Oil Corporation (NYSE: MRO) from Sell to Neutral.

The firm continues to prefer Neutral rated Frontier Oil Corp. (NYSE: FTO) and Holly Corp. (NYSE: HOC).

These will get hammered down for the next few days. Then we can take a look at them.

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SUN

Sold my SUN position for a healthy $2/share profit.

I am not done with it though. I will enter again.

SUN

I just want to give a little rationale why I purchased SUN...I think commodities and commodity related stocks will rise into summer. The trend is on my side and I would like to run with it. I think the market is taking a little breather today which gives me a perfect entry point for this one. I bought the puts just in case I am wrong. As you can see from previous blog posts, I have been neutral to slightly bearish on the markets. So buying puts for protection on any long position is the smart thing to do.

SUN

SUN - I opened a long position in SUN stock outright at $29.65. I also purchased the JUN26 (SUNRL) PUTS @ 90 cents for protection in case it goes down. Bought 120% of my position in puts.

I will sell JUN30 calls when the stock reaches $32 in the next few days.

SUN

SUN -Closed my position today at the close for $.50

60% GAIN

SUN

SOLD TO OPEN MAY 24 PUTS (SUNQK) - $1.25 today at 11:36am. Half position. I will layer in because there could be more downside to the stock.

SUN

Sunoco Inc (SUN) This is a great pick from Dad. A good base is forming around $25-$26. Sell May $22.50 or May $24 puts on a little pullback. Earnings April 29th.