We all know that the refining business is cyclical in nature. This is not only a great buying opportunity for the long term investor, but also an opportunity for the day/swing trade to make some quick $$$. Selling the $57.50 weekly puts is a no brainer.
you got that right, the market is speaking.... VERY clearly, the volume alone proves that. As far as it being down 2 points this morning...it never was down that much, not even in pre market. It opened down a buck and change and never looked back...up over $3 now on heavy volume,,,how's that for the market talking to you???
Then, by all means get into the lemmings line and sell into the panic. If you are a day trader, you are, statistically, most likely loosing money. Otherwise, convince me that there is a fundamental problem with the long term outlook for PSX?