Volume Spike Investor » VLO

OPTIONS ALERT: Refineries (SUN, VLO, FTO, TSO)

247admin — Thu, 15 Oct 2009 17:01:10 +0000

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) and Valero (NYSE: VLO) have begun to shut down operations at many plants.

Valero (NYSE: VLO) November $23 calls are trading 5,964 vs OI of 314,
Frontier (NYSE: FTO) November $15 calls are trading 5,399 vs OI of 2,870,
and Tesoro (NYSE: TSO) November $16 calls are trading 5,054 against OI of 2,996.

All of these positions are in out of the money calls looking for the group to have a sustained rally, or possibly looking for consolidation in the industry as conditions continue to be tough and cost cuts and merger synergies are needed to operate efficiently. (12:55 PM EST)

Joe Kunkle OptionsHawk.com

Volume Alert: Refiners retreat on supply concerns (SUN, COP, HES, OXY)

247admin — Tue, 30 Jun 2009 14:51:35 +0000

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 supplies, potentially hurting prices.

Also, oil has dropped below $70 a barrel, with refiners lagging the overall market. ConocoPhillips (NYSE: COP) shares are down 1.7% on slightly above-average volume for this time in the session. Hess Corp. (NYSE: HES) shares are down nearly 3 percent, also on slightly elevated volume. Occidental Petroleum Corp. (NYSE: OXY) shares are down roughly 2 percent on average volume. — Mike Tarsala

Volume Spikes On Stock/Debt Offerings (BVF, JBLU, VLO, STLD)

247admin — Tue, 02 Jun 2009 20:59:24 +0000

Biovail Corporation (NYSE: BVF) fell by almost 7% after the drug company announced a plan to sell $200 million in convertible notes.

Jetblue Airways Corporation (NASDAQ: JBLU) has announced that it intends to offer some 20 million shares of common stock. It also plans to offer an aggregate of $150 million in convertible debentures in two series.

Valero Energy (VLO) traded lower on a double-dip news event. The company said it would lose roughly -$0.50 EPS due to extended downtime at its Delaware City and McKee refineries and by the continuation of weak sour crude oil discounts and lower diesel margins. They decided to announce a proposed sale of some 40 million shares of common stock to raise some $800 million in cash.

Steel Dynamics (STLD) saw shares sell off by about 7% after the company filed to sell 27 million shares in a secondary offering and $150 million in a convertible debenture.