Blind Squirrel Macro

Share this post

The Squirrel's not feeling the crowds 'Offshore'

www.blindsquirrelmacro.com

The Squirrel's not feeling the crowds 'Offshore'

A 'torqued' Acorn Basket in Transocean, Noble, Valaris, Tidewater and Weatherford.

Sep 15, 2023
∙ Paid
50
Share this post

The Squirrel's not feeling the crowds 'Offshore'

www.blindsquirrelmacro.com
32
Share

Summary

  • As promised last week, we are launching a new Acorn trade in the offshore segment of the Oilfield Services Sector (OFS).

  • The sector has had a strong run alongside crude oil over the summer and we had been concerned that the offshore names were starting to feel a little crowded.

  • We no long believe that to be the case and think that the sector has plenty of runway ahead.

  • Our Offshore basket comprises an equal-weight basket of stock in 5 of the sector’s biggest names, with some additional ‘torque’ in the form of call option structures on 3 of those names.

The Squirrel's not feeling the crowds 'Offshore'

I have a confession. Don’t tell Mrs. 🐿️ or the kids, but I hang out with a lot of people that like energy stocks. I do my level best to gauge investment views from the broadest range of opinion, but at times fall into the trap of thinking that a story is so well discussed or an idea so well championed that it must be ‘in the price’ already.

In Monday’s note, I shared Judd Arnold’s twe…

This post is for paid subscribers

Already a paid subscriber? Sign in
Previous
Next
© 2023 RDAM Advisory Pty Limited
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing