PSX: Oil’s Rise Boosts Refiner’s Stock

Yesterday, we looked at a Daily Price Chart of  //links.tradewins.com/a/126/click/10237194/743397264/_ec8d001010d73509059bee817530d30d1c41f6e4/b060c43e794a761946ef4226787ed976d6b038ce April 3rd, 2024 PSX: Oil’s Rise Boosts Refiner’s Stock Dear Reader, Yesterday, we looked at a Daily Price Chart of [Alphabet Inc.](, noting that GOOGL’s 24/52 Day MACD is trading above the 18-Day EMA signaling a ‘Buy’. For today’s Trade of the Day we will be looking at a Daily Price chart for Phillips 66 stock symbol: PSX. Before breaking down PSX’s daily price chart let’s first review which products and services are offered by the company. Phillips 66’s operations incorporate refining, midstream, marketing and specialties, and chemicals. The company’s operations include processing, transportation, storing and marketing fuels and products all over the world. Now, let’s begin to break down the Daily Price chart for PSX. Below is a Daily Price Chart with the price line displayed by an OHLC bar. Buy PSX Stock The Daily Price chart above shows that PSX stock has been hitting new 52-Week Highs regularly since mid-March. Simply put, a stock does not just continually hit a series of new 52-Week Highs unless it is in a very strong bullish trend. The Hughes Optioneering team looks for stocks that are making a series of 52-Week Highs as this is a good indicator that the stock is in a powerful uptrend. You see, after a stock makes a series of two or more 52-Week Highs, the stock typically continues its price uptrend and should be purchased. Our initial price target for PSX stock is 175.00 per share. Profit if PSX is Up, Down or Flat Now, since PSX is currently making a series of new 52-Week Highs and will likely rally from here, let’s use the Hughes Optioneering calculator to look at the potential returns for a PSX call option spread. The Call Option Spread Calculator will calculate the profit/loss potential for a call option spread based on the price change of the underlying stock/ETF at option expiration in this example from a 7.5% increase to a 7.5% decrease in PSX stock at option expiration. The goal of this example is to demonstrate the ‘built in’ profit potential for option spreads and the ability of spreads to profit if the underlying stock is up, down or flat at option expiration. Out of fairness to our paid option service subscribers we don’t list the option strike prices used in the profit/loss calculation. The prices and returns represented below were calculated based on the current stock and option pricing for PSX on 4/2/2024 before commissions. Built in Profit Potential For this option spread, the calculator analysis below reveals the cost of the spread is $280 (circled). The maximum risk for an option spread is the cost of the spread. The analysis reveals that if PSX stock is flat or up at all at expiration the spread will realize a 78.6% return (circled). And if PSX stock decreases 7.5% at option expiration, the option spread would make a 78.6% return (circled). Due to option pricing characteristics, this option spread has a ‘built in’ 78.6% profit potential when the trade was identified*. Option spread trades can result in a higher percentage of winning trades compared to a directional option trade if you can profit when the underlying stock/ETF is up, down or flat. A higher percentage of winning trades can give you the discipline needed to become a successful trader. The Hughes Optioneering Team is here to help you identify profit opportunities just like this one. Interested in accessing the Optioneering Calculators?[ Join Chuck’s Wealth Creation Alliance]( for unlimited access! The Optioneering Team has option calculators for six different option strategies that allow you to calculate the profit potential for an option trade before you take the trade. Trade High Priced Stocks for $350 With Less Risk One of the big advantages to trading option spreads is that spreads allow you to trade high price stocks like Amazon, Google, or Netflix for as little as $350. With an option spread you can control 100 shares of Netflix for $350. If you were to purchase 100 shares of Netflix at current prices it would cost about $61,000. With the stock purchase you are risking $61,000 but with a Netflix option spread that costs $350 your maximum risk is $350 so your dollar risk is lower with option spreads compared to stock purchases. Short-Term Program from Chuck! Chuck Hughes has just launched his exciting new trading service program, Lightning Trade Alerts. This new service focuses on low-cost & short-term options trade. Members will receive hand-picked options trades from the 10-Time Trading Champion, Chuck Hughes. Call our team at 1-866-661-5664 or 1-310-647-5664 to join or [CLICK HERE]( to schedule a call! Wishing You the Best in Investing Success, Chuck Hughes Editor, Trade of the Day Have any questions? Email us at [dailytrade@chuckstod.com]( *Trading incurs risk and some people lose money trading.  --------------------------------------------------------------- See Related Articles [Momentum Drives GOOGL to New Highs]( [MSFT Poised for Next Bullish Breakout?]( [Target Zeroed in on New Highs]( --------------------------------------------------------------- [TradeWins Logo](  © 2024 Tradewins Publishing. All rights reserved. | [Privacy Policy]( | [Terms and Conditions]( | [Contact Us]( If you didn't create an account using this email address, please ignore this email or unsubscribe using the link below. 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