We had four "Big Oil" picks going into March, three are left standing: Note that BKR was exited pursuant to a -50% hard stop, save for a token position as per trader preference. In this case, since the other three Big Oil names more than covered a position in the sector, exiting BKR completely via the hard stop was warranted. Nonetheless, even if still holding some BKR calls, the overall sector bet is very profitable, especially considering we closed out Mar XOM calls at expiration for over a 500% gain. What's Next? Hold the remaining positions in XOM, CVX and RIG subject only to the 50% trailing stops. We will consider roll-overs in a couple of weeks as April 17th expiration nears. XOM 2-Day XOM is looking at at least two more monthly expiration roll-overs basis this 2-Day EW chart, targeting $225+ by summer.
