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Hawk’s Nest

Oil Name Sees Call Buyer into Support Bounce

by | Sep 29, 2022

Apache (APA) buyer of 1000 April $40 calls $4.25, one of the more intriguing Oil names if prices can hold. APA pulled back to monthly value low this week near 33 before finding support and bouncing as crude oil stabilizes. The gap overhead sits near 37 and would be a first resistance but a stock that is still holding its long term trend near 55 week EMA and if can hold this weeks lows then has potential to rebound towards 45 longer term.