WNR

Bought to close WNR JUL7.50 PUT @.85 for a LOSS. Just rather buy them back at close to par today and take the loss. I don't know what next week could bring.

WNR

Now that Goldman Sachs lowered estimates on the refiners, I feel better about keeping my WNR cash secured puts. On a bad tape yesterday, the refiners did well. So my take is Goldman was buying as they downgraded. I think we will be OK on the JUL7.50 puts.

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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WNR

I don't like the price action. Keeping a close eye for a possible bail. Will update.

WNR

Sell to open WNR WNRSU JUL7.5 PUTS @ $.55 FILLED.

WNR

Sell to open WNR WNRSU JUL7.5 PUTS @ $.55. Working order.