Call Options on TDW on 7/17/2023

Tidewater Inc. (TDW) provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. 

It provides services in support of offshore crude oil and natural gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying. 

The company serves oil and natural gas exploration, field development, and production companies; mid-sized and smaller independent exploration and production companies; foreign government-owned or government-controlled organizations, and other related companies; drilling contractors; and other companies, such as offshore construction, windfarm development, diving, and well stimulation companies.

Shares have formed a bullish "flag" and higher share prices are expected. On May 8th, TDW reported Quarter March 2023 earnings of $0.23 per share on revenue of $193.1 million.. Revenue grew 82.6% on a year-over-year basis.

Entry Point: $59.80

Trading Range: $17.88 to $61.31

Trade Buy 1 August $60.00 Call at $3.50 For a net debit of $3.50 Profit/Loss Analysis Breakeven at $63.50 Maximum profit is unbounded Maximum loss is ($350.00) at strike of $60.00 Closing Summary Sold 1 August $60.00 Call at $6.90

Position closed on 8/4/2023 at price of $6.90 with a 97.14% gain in 18 days.

Updates

8/4/2023 11:11:06 AM

TDW $60 call options closed at $6.90

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