This March Alaska’s Senate passed legislation to cut taxes on oil production. The bill is expected to pass and be signed by their Governor Sean Parnell. ConocoPhillip is Alaska’s largest oil and gas producer and will be the biggest beneficiary when the bill passes. ConocoPhillips is expected to expand its exploratory drilling in arctic Alaska next year. ConocoPhillips is investing $2.5 billion in Alaska over the next five years on innovative technologies with the aim of reversing its declining production there.
My Trade: Buying the COP May 62.5 Calls for $.52
Risk: $52 per 1 lot
Reward: Unlimited
Breakeven: $63.02
Greeks of this Trade:
Delta: Long
Gamma: Long
Vega: Long
Theta: Short
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Andrew Keene
President/Founder
Andrew@KeeneOnTheMarket.com