HollyFrontier Corporation (HFC) soared 5.32% yesterday on news that rival Valero Energy (VLO) blew past its consensus estimate for Q4 earnings by a whopping 59%.
Although HFC itself is only announcing its own earnings on Feb. 26, investors are clearly expecting big things from this energy play.
With the options up 82.68%, I am recommending that you sell half of your options to lock in some big gains. The stock is now up 17.44% since you first bought it on Nov. 19, so I am also recommending that you sell half of your stock position here to lock in your profits. In addition, raise the stop on your remaining shares to $46.00.
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Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services: