Call Options on TNP on 3/6/2023

Tsakos Energy Navigation Limited (TNP) provides seaborne crude oil and petroleum product transportation services worldwide. 

The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters.

As of April 21, 2022, it operated a fleet of 66 double-hull vessels, comprising of 60 conventional tankers, three LNG carriers, and three suezmax DP2 shuttle tankers. The company was formerly known as MIF Limited and changed its name to Tsakos Energy Navigation Limited in July 2001.

On November 22, 2022, TNP reported 3rd Quarter September 2022 earnings of $1.48 per share on revenue of $223.7 million. The consensus earnings estimate was $2.16 per share on revenue of $150.3 million. Revenue grew 70.1% on a year-over-year basis. Next report is due March 7th. Shares have formed a bullish "cup and handle" and are expected to move higher from this formation.

Entry Point: $24.50

Trading Range: $7.48 to $24.53

Trade Buy 1 March $22.50 Call at $2.25 For a net debit of $2.25 Profit/Loss Analysis Breakeven at $24.75 Maximum profit is unbounded Maximum loss is ($225.00) at strike of $22.00 Closing Summary Sold 1 March $22.50 Call at $0.00

Position closed on 3/17/2023 at price of $0.00 with a -100.00% loss in 11 days.

Updates

3/17/2023 2:58:52 PM

TNP call options closed

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