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As most of you know i have thought all year that oil prices are being manipulated by speculators. Various reasons have led me to this view the main one being if the U. S. is using less oil,the other countries with much less disposable income have to be using less. Most of the Asian countries with their gas subsidies cut have to be using less oil.
These 2 oil refiners should increase profits as oil prices drop. Oil and oil companies haven't risen as aggressively lately and for the oil companies some have been declining. So,I bought some October calls at as close to the stock price today as I could and some are in the money already. That would be a $30 call on VLO and $15 call on TSO for Oct. and if you want to go out to Nov. or Dec calls.
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