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CRC - California Resources Corporation

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by AverageJoesTrades, Feb 13, 2019.

  1. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    [​IMG]

    California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. The company sells crude oil, natural gas, and natural gas liquids to marketers, California refineries, and other purchasers that have access to transportation and storage facilities. It holds interests in approximately 2.3 million net acres of mineral acreage. As of December 31, 2017, the company had net proved reserves of 618 million barrels of oil equivalent. It also generates and sells electricity to the grid and utility customers. The company was founded in 2014 and is based in Los Angeles, California.
     
  2. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    Noticed around 11:15AM EST there was a 9,000 call purchase on the ask of 1.20 15-MAR-19. O/I was only 314. IV is quite high at 90.00 - looks to be an earnings play - a 1.08Million dollar earning play.
     
  3. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    the calls closed up to 1.50 or 25% from the call buy this afternoon. Not a bad way to earn $270,000 in a day;)

    I am riding the coat tail here - but I got in at 1.30 and only with $1k
     
  4. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    another good day with a choppy/down market - Calls closed up to 1.78 today. Original call buyer is up +48.33% or $522,000 in 2 days...
     
    T0rm3nted likes this.
  5. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    The calls are now up to $2.55 with 12,091 of OI - meaning that the call holder has not sold their calls yet.

    The original call holder is now up 112.5%. So in 3 days they made over $1M... geez.

    I am .05 cents away from being up 100%. I plan on selling half at 2.60 and letting the rest ride for a little - maybe up to earnings.
     
    T0rm3nted likes this.
  6. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    sold half at 2.60 this morning! Following to see what the original holder does. based on O/I they are still holding.
     

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