OPTIONS ALERT: Refineries (SUN, VLO, FTO, TSO)
Refiners are gaining today after inventory data showed improving utilization rates. As one of the few groups yet to rally in this market, and most expecting a Q3 that is just as, if not worse, than Q2, optimistic traders are scooping up chunks of calls for November. Also, many companies such as Sunoco (NYSE: SUN) [...]
Volume Alert: Refiners retreat on supply concerns (SUN, COP, HES, OXY)
Shares of refiner Sunoco Inc. (SUN) are down more than 2 percent, and have traded roughly a third of their average daily volume in the first 75 minutes of trading on Tuesday. Goldman Sachs early this morning cut its rating on Sunoco, noting rising gasoline inventories and new refineries coming on that could further boost [...]
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