Bullboard - Stock Discussion Forum Suncor Energy Inc. T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the United States and its Petro-Canada retail and wholesale distribution networks... see more

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TSX:SU - Post Discussion

Suncor Energy Inc. > Overdone

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Post by MigraineCall on Mar 15, 2023 12:33pm

Overdone

Sold some core positions. Buying lots of call options, various names.

Don't do what I do.

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Comment by Experienced on Mar 15, 2023 6:58pm

Good move my friend!! The banking stuff won't have an impact in the short term for oil demand. An overreaction for sure. As I mentioned before, while I did do leveraged investments many years ago, options are not for me now at my age and financial situation...have better things to do with my time...lol.. Bought a very small position in oils today as I agree the reaction is overdone. ...more

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Comment by meritmat on Mar 15, 2023 8:04pm

Come back to the Dark side my son)

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Comment by Experienced on Mar 16, 2023 4:55pm

ROFL Good one my friend!!!

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Comment by Lawisfun on Mar 15, 2023 8:11pm

Secured some Jan 17, 2025 $20 calls for $19.75 today. good luck to all the longs.

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Comment by Obscure1 on Mar 15, 2023 11:39pm

On the surface, paying $19.75 for a 22 month option that is about $20 in the money seems like a half price way to buy the stock, That is a lot of theta if oil struggles. With the volatility in oil and in the SU share price that goes with it, there will probably be lots of chances to grab a win. I hope it works out for you.

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Comment by MigraineCall on Mar 16, 2023 9:21am

Yikes... I agree. First off, options on the US side have tighter bid/ask spreads, and are more liquid. I would not put up $20 for a $40 US share strike price, as I ojnly need to put up 30% cash to own the stock directly and collect the dividends, and it is in most liquid form without any decay. The whole option idea is that when the price is at an extreme high or low, you can use options for ...more

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Comment by Lawisfun on Mar 16, 2023 9:36am

Correction: If I'm wrong in 22 months, I lose it all. There is lots of time to take a non-total loss. There are many valid options strategies. Without knowing one's specific motivations, it is impossible for others to speculate on the validity of the strategy. Happy to see the share provoked some discussion. good luck to all the longs.

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Comment by Experienced on Mar 16, 2023 4:59pm

Yep My options trading days are long gone as I have mentioned before. That said, when I saw this post, I cringed for the reasons that you have outlined. Hope it works out for him.

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