HES currently sits on support, and will most likely either be bought up or invalidated this coming week. 73 is a very important level to watch closely as an invalidation point, and on the upside we should see a minimum of 86.5 with the possibility up to 95. The risk:reward gives us a minimum of 4.4 times our money from what we must risk, but a break of 75.30 could present one more move down. We will be watching HES very closely this week for any clues that we should be long.
We do trades like to this on all timeframes in the options trading group.
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