$OSG trading ranges
OSG is Jones Act oil tanker shipping company. It's a good long term investment as it trades at a low multiple, has a wide regulatory moat, and is a good acquisition candidate at a valuation range around $4-5 per share.It's also been a very reliable swing trade for a few years.
OSG spikes to $2.50 every once in a while and can be sold and then bought back in the low 2's. Before 2020 the range was similar but wider.It happened again this week when it spiked above $2.50 on the Colonial pipeline news on Monday 5/10, and is now already back under $2.20.
I just trade the shares. The only useful trade for options traders is to sell the $2.50 calls when it spikes. There are no strikes below $2.50 and what little there is is extremely illiquid.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.