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Put Options on NFG on 7/29/2019

broken support $NFGNational Fuel Gas Company (NFG) operates as a diversified energy company.

It operates through five segments:

Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing.

The Exploration and Production segment explores for, develops, and produces natural gas and oil in California and in the Appalachian region of the United States. As of September 30, 2018, it had proved developed and undeveloped reserves of 27,663 thousand barrels of oil and 2,357,342 million cubic feet of natural gas.

The Pipeline and Storage segment provides interstate natural gas transportation and storage services through an integrated gas pipeline system extending from southwestern Pennsylvania to the New York-Canadian border, and eastward to Ellisburg and Leidy, Pennsylvania; and owns and operates 28 underground natural gas storage fields, as well as 3 other underground natural gas storage fields. This segment also transports natural gas for National Fuel Gas Distribution Corporation, as well as for other utilities, industrial companies, and power producers in New York State; and owns and operates the Empire Pipeline, a 266-mile pipeline system.

The Gathering segment builds, owns, and operates natural gas processing and pipeline gathering facilities in the Appalachian region. The Utility segment sells natural gas or provides natural gas transportation services to approximately 750,200 customers in Buffalo, Niagara Falls, and Jamestown, New York; and Erie and Sharon, Pennsylvania.

The Energy Marketing segment markets natural gas to industrial, wholesale, commercial, public authority, and residential customers primarily in western and central New York, and northwestern Pennsylvania. 

Shares have fallen through a support level and are heading lower. 

 

 We will be trading August 16th Put Options

 

Last Trade: $46.07

Trading Range: $45.79 to $61.71

 

Trade

  • Buy 1 August $45.00 Put at $0.80
  • For a net debit of $0.80

Profit/Loss Analysis

  • Breakeven at $44.20
  • Maximum profit is unbounded
  • Maximum loss is ($80.00) at strike of $45.00

Closing Summary

  • Sold 1 August $45.00 Put at $0.00

Position closed on 8/16/2019 at price of $0.00 with a -100.00% loss in 18 days.

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