A favorite of position right now, and one that’s managed to weather the storm, is Schlumberger (SLB) against which I own February $65 puts, presently up 54% from their purchase price. I was delighted today to see that the trendline had finally been broken.
I think this sets us up for a move to about $48. The long-term chart illustrates just how big this now-failed trendline is.
