HNP is forming a triangle here. Which direction will it resolve to? The prevailing trend is down, but it’s been in oversold condition for a month, so I think it will move up from here. How far can it go? I’m not sure. The resistences are at 32 and 34. I may open a small call position on HNP Jan or Feb 30 Calls. Yesterday, the quote for Feb 30 Call was 1.3 x 1.5.

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