Put Options on PE on 8/21/2017

Parsley Energy, Inc. (PE) is an independent oil and natural gas company.

The company engages in the acquisition, development, production, exploration, and sale of crude oil and natural gas properties in the Permian Basin in West Texas and Southeastern New Mexico.

As of December 31, 2016, its acreage position consisted of 138,567 net acres, including 95,072 net acres in the Midland Basin and 43,495 net acres in the Delaware Basin; and 146.7 net producing horizontal wells and 481.5 net producing vertical wells, as well an estimated proved oil and natural gas reserves were 222.3 MMBoe. 

Shares have formed a bearish "flag" following the company's latest quarterly report. On June 29, the company reported EPS of 5 cents, well below the expected 11 cents. The decline in earnings should continue as oil and gas prices remain under pressure. Shares are expected to drop down from this formation. 

Last Trade: $24.79

52-Weeks Trading Range: $24.25 - $39.82

Trade Buy 1 September $25.00 Put at $1.00 For a net debit of $1.00 Profit/Loss Analysis Breakeven at $24.00 Maximum profit is unbounded Maximum loss is ($100.00) at strike of $25.00 Closing Summary Sold 1 September $25.00 Put at $1.20

Position closed on 9/8/2017 at price of $1.20 with a 20.00% gain in 18 days.

Updates

9/8/2017 10:20:21 AM

PE Put options closed at $1.20

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