Options Trading Report: Phillips 66 NYSE:PSX
Options Trading Report: Phillips 66 NYSE:PSX
Profile: Phillips 66, an independent downstream energy company, engages in the refining and marketing, midstream, and chemicals businesses. The company purchases, refines, markets, and transports crude oil and petroleum products primarily in the United States, Europe, and Asia; and owns or leases various transportation assets, such as pipelines and terminals, marine and inland vessels, railcars, and trucks for the delivery of crude oil, refined products, natural gas, and NGL, as well as engages in power generation activities, and lubricants and other specialty products businesses. As of September 12, 2012, it operated 15 refineries with a net crude oil capacity of 2.2 million barrels per day; approximately 10,000 branded marketing outlets; and 15,000 miles of pipeline systems. The company, through its 50% equity investment in DCP Midstream, LLC, operates as a natural gas gatherer and processor, and NGL producer and marketer in the United States with 7.2 billion cubic feet per day of gross natural gas processing capacity. Phillips 66 directly owns and operates interests in 3 NGL fractionators and gathering systems at NGL hubs in the United States; and owns a 25% interest in the Rockies Express natural gas pipeline. In addition, the company, through its 50% equity investment in Chevron Phillips Chemical Company LLC, produces olefins and polyolefins; and supplies aromatics and styrenics. Phillips 66 was founded in Y 1875 and is HQ’d in Houston, Texas.
Headlines: Lightning Round: DuPont, Phillips 66 & More
Phillips 66 options contracts saw interesting Call activity Tuesday. There were 4.4 Calls traded for each Put contract yielding a 0.23 Put/Call Ratio PCR, 3,139 Put and 13,864 Call contracts were traded.
Participants use options to manage risk and to speculate on price changes.
A significant increase in the trading volume of a stock’s option often is a signal of movement by the underlying stock. In such instances, the PCR can be used as an investor sentiment indicator, where a high PCR implies that the overall investor sentiment is Bearish and a low PCR implies that the sentiment is Bullish.
Options can provide significant leverage if the stock moves in the right direction but also finish worthless if it does not.
Tuesday shares of Phillips 66 finished off 0.21, 0.34% at 61.01.
The Daily Trading Range: $60.98-61.98.
52 wk Trading Range: 28.75 – 63.25
PSX is trading above its 50 and 200-Day MAs
Tuesday’s volume: 4.6-M/shrs is below the 90 day average volume of 4.7-M/shrs.
Divi Yield: 1.00 (1.60%)
Next Earnings Date: N/A
Analysts Recommendation: Buy
1 yr Price Target Estimate: 71.28
LTNs Analysis for PSX: Overall Short Intermediate Long
Bullish (0.33) Neutral (0.19) Bullish (0.27) Very Bullish (0.54)
Recent CandleStick Analysis Neutral
Direction Date Range
up 1 Feb 2013 61.05 to 61.22
up 29 Jan 2013 57.68 to 57.96
up 19 Nov 2012 45.92 to 46.38
Support and Resistance
Type Value Conf.
resist. 63.39 1
resist. 61.10 4
supp 57.71 4
supp 55.26 2
supp 53.68 4
supp 52.62 3
supp 50.35 10
supp 46.29 13
supp 43.62 4
supp 40.90 2
Ind. Short Inter Long
EMA VBu VBu VBu
MACD VBe Bu N
Fibs Be Bu VBu
Highs N N N
Lows VBu Bu VBu
Trends N N VBu
VBu=Very Bullish, Bu=Bullish
Be=Bearish, VBe=Very Bearish
Heffernan Capital Management
Business Development Director – Private Client Group,
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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