SM Energy (SM) shares of the small cap oil & gas name are forming a strong high tight bull flag near the 50 level and last week closed at highs of the week as energy stocks saw a bid into Friday. SM has a two-month consolidation pattern that can see a surge above 51 from here and likely target the prior highs at 53 as a first level while the 55 level being the 1.272% fib extension above. SM has seen November $60 calls buy 500x recently as well as still having 1150 August $52.50 calls in OI from buyers on 3/6 at $1.85.