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Oasis Petroleum (OAS) Showing Bearish Technicals With Resistance At $13.27

Mar 20, 2017 ( via COMTEX) --

Oasis Petroleum (<a href="">OAS</a>) is a good candidate for a covered call at the $11 level. The Aug 18, 2017 call at that price should fetch a credit of about $2.75, which means the entire position has a net debit of about $10.05. This trade has 18.35% downside protection. Another option would be to buy the OAS Jan 19, 2018 $2 call instead of holding a long position in the stock. This lowers the net debit to $8.44, but the position only has 18.35% downside protection. Technical indicators for the stock are bearish and Oasis Petroleum has a 52-week low of $6.40 and 52-week high of $17.08.

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