The Squirrel's not feeling the crowds 'Offshore'

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

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…