Buying More Time in CRK

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Back in mid-March, we took a shot on $CRK as a natural gas play.

The stock was putting the finishing touches on a decade-long bearish-to-bullish reversal — and we nailed it.

We locked in profits, sold the double, and let the rest ride with zero risk.

But here’s the thing — those calls expire next week… and I’m not done with this trade.

Price has been coiling in a tight range just above the breakout level.

Call it a bull flag, a pennant — either way, it’s a constructive set up. 

And our volatility squeeze indicator is at an extreme low. That tells me a big move is brewing.

So here’s what I’m doing:

I’m buying the $CRK 7/18 $27 calls for approximately $0.60 - $0.70 per contract.

Steve