This is the nose bleed refiner. TSO with all their refineries is just $6 billion. And certainly it isn't worth half that of HFC with their superior refineries. I guess this is what happens when there isn't much float going into end of year in a hot sector. Unfortunatley i'm short from $43. I will have to wait until a bad day for the spread next year. Not covering here.
I would sell and get short. It had a very strong technical move, but it is overpriced compared to the other refiners. It will come back inline eventually. Next year could be a worse year for the spread. The spread actually has fallen to below where it was when it broke out above $41. That is a warning sign. I would sell, and get long VLO or another safer one for a bit. Just my opinion, but you ahve done better than me, so maybe you are smarter. Good luck. One last thing, Icahn was unable to find a buyer at $30. There were no takers. Now the stock is $48 just a few months later. Do you think there are any buyers 60% higher? Almost certainly not.