Put Options on PSXP on 9/21/2020

Phillips 66 Partners L.P (PSXP) is a downstream energy company. It operates in three segments: Refining and Marketing, Midstream and Chemicals.

Refining and Marketing segment purchases, refines, markets and transports crude oil and petroleum products primarily in the United States, Europe and Asia. This segment also includes power generation operations.

Midstream segment gathers, processes, transports and markets natural gas and transports, fractionates and markets natural gas liquids primarily in the United States. Chemicals segment manufactures and markets petrochemicals and plastics.

Shares have fallen below all supports. The next possible support is about 20% below current prices.

Last Trade: $24.58

Trading Range: $19.00 - $65.22

Trade Buy 1 October $25.00 Put at $1.45 For a net debit of $1.45 Profit/Loss Analysis Breakeven at $23.55 Maximum profit is unbounded Maximum loss is ($145.00) at strike of $25.00 Closing Summary Sold 1 October $25.00 Put at $2.90

Position closed on 9/28/2020 at price of $2.90 with a 100.00% gain in 7 days.

Updates

9/28/2020 1:15:47 PM

PSXP $25 put option closed at $2.90

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