Friday, May 28, 2010

Oil Leak: Profit From BP Going Up or Down

BP (click to receive buy and sell allerts) is down 4% today, after rising 5% yesterday. The stock is extremely volatile due to the very serious issues with the oil leak. There are reports of cover-ups, of 2nd oil leaks, live (real or fake?) video feeds, etc. What a circus, but one that is not funny at all.

This is another great situation for our favorite straddles.

Here are straddles for June:

Computed with StraddlesCalc Tool.

Please do your own due diligence. This is not advice. Options are very dangerous and may cause 100% loss.

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