Canadian Oil Sands Leader Sees Bullish Deep ITM Opening Put Sale
Suncor (SU) seeing over 870 September $38 ITM puts sell to open at $4.10 and quite a bullish read since they are deep in the money 85 delta puts. Opening put seller showing confidence that shares are at or above 38 in the next 3 weeks as the stock is breaking out above monthly value area this week and a small trendline. Oil names remaining strong and SU has a clear path towards the 37 untested VPOC overhead. The Canada-based integrated energy company also has a 4.2% dividend.