We are all playing the very short term cycle the MLP's have going into their dividend. Historically, EPD goes up for the last few trading days before its EX date (which should be somewhere around the first of November). Hence we are buying ITM calls for Nov, looking for a very short term "pop" next week.
BTW- I re-entered the $52.50's today for $1.55... I guess I pulled the trigger a bit too soon!
"BTW- I re-entered the $52.50's today for $1.55. I guess I pulled the trigger a bit too soon!"
That's better than not pulling it at all. I paid 1.70 I think, when I saw the curve flatten around 53.80 and headfake back up. I thought it was the return bend but then headed south another .5
Some articles in the majors, Bloomb, WSJ, say today;s earnings from GE McD and what's the other one in tech, were bellweather reports.
Could be more downside. Sent a shipment of dry powder to the brokerage for next week. Can't bear to sit out when there are deals to be had.
I thought I would score a cheap double with some itm CQP oct 22's a month ago. Hah! Took a wuppin.
Keep up the good work team, without you all I don't know where I'd be. Still a very solid up for the year.