Yo, Pit Crazies,
While most of the market was doing nothing yesterday, an exciting thing happened in one of the stocks I follow.
You see, over in Capital Gains we want to own as many oil and gas producing companies as we can, so this one is one of my favorites for a longer term hold …
Pop on through to see what it is.
That is a bullish engulfing candle in KinderMorgan
I am looking for a turnaround in most of the natural gas, oil and related industries.
The higher inflation number last week threw things for a loop but the demand for oil and gas is here to stay.
KinderMorgan Inc. (Ticker: KMI) is likely going into the Div+ portfolio for OP Mentoring.
The Rundown
SPYMaster
SPY Sep30 388/373 put vertical spread & VIX Oct19 24 puts closed for a 25% gain. I had the option to hold the VIX puts but I got an easier shot at gains early, so I took it.
VolEdge
VIX Sept. 21 25/30 call spread closed for a 93% gain. Mark took the savvy in the money close yesterday.
Big Money Shopper
Licia and Mark are riding the higher rates and bank stocks with BankAmerica Corp (Ticker: BAC) Sept. 16 34 calls closed for a 90% gain.
Power Gains
Bill and I closed out the Vaneck Gold Miners ETF (Ticker: GDX) Oct. 21/Sept. 16 23/24.5 call calendar and Invesco QQQ Trust ETF (Ticker: QQQ) Sept. 16 290/275/260 put butterfly for an 11% gain. We held the QQQ into Thursday, but the market would not break lower.
Pit Income Trader
Bill finished up the rundown close on a SPY Sep21 405/402 put vertical spread for an 86% gain
To Your Trading Success,
AG