Yesterday we wrote positively on the XLE(Select Energy ETF).  Today the index is moving quite well after opening the new month with a gap higher open.  Our option coverage yesterday was particularly spot on.  Here’s an update: 

Follow up to yesterday options action in XLE. The Jan 72 calls have almost doubled from $.35 to .$65 with only a 1.5% move higher in the stock from 68.95 to 69.95 in the past 24 hours. The power of options leverage!


More option plays to come. 

At time of publication we are long XLE in some managed accounts.