This week BP stock has had a run up of almost 20% and it was one of our key holdings in our last portfolio update we posted back in November. We are tempted to bank profits but there is an upcoming dividend of nearly $0.40/share ex-dividend date coming next week.
BP’s (LON: BP) shares in London have jumped by nearly 19% since this past Tuesday when the company said it would invest more in resilient oil and gas projects than previously planned and would pump more hydrocarbons for longer to meet the world’s needs.
Finance Yahoo
We will likely bank some profits but we think BP has potential for a bit more of a run up considering tight production of oil & gas over the next few years and summer demand is just around the corner. Our selling strategy will likely settle around selling slightly out of money calls to bank an additional profit premium into April so stay tuned, stay profitable and stay solvent.