Pacific Ethanol, Inc. PEIX Stock Review

Pacific Ethanol, Inc. trades under the ticker PEIX & has recently had very strong technical performance. I’m looking at their options, and am interested in either buying the in-the-money $6 calls as they are currently set to open <$7/share due to today’s volatility, or I may set up a straddle using the $7 PEIX calls & puts with the October 16th expiration.

PEIX Price (per 9/18/20 Close): $7.10

10 Day Moving-Average: $5.13

50 Day Moving-Average: $3.19

200 Day Moving-Average: $1.20

RSI: 77

While today I will likely be selling SPXS & SQQQ calls, this is a play that I am going to be looking to make within the coming days to take advantage of their recent strength.

*** I DO NOT OWN ANY SHARES IN PEIX AS ON PUBLISHING THIS POST ***

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