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RRC Forecast + Trading Strategies



Price Forecast:


Bearish   <->   Bullish



Bullish Case: RRC may benefit from a recovery in natural gas prices, supported by strong cash flow and historical performance indicating price resilience. Increasing implied volatility suggests traders are positioning for a potential upward move.



Bearish Case: Ongoing volatility in natural gas prices poses significant risk to RRC's profitability. The mean-reverting price action and low trading volume indicate potential for price stagnation or downturn.



Potential Outcomes:

1) 60% chance: Stable gas prices lead to recovered share price.

2) 20% chance: Natural gas price spikes, driving RRC up but increasing volatility.

3) 20% chance: Market reactions lead to further declines due to investor sentiment.



Trading Oracle: Consider implementing a bullish debit spread by buying RRC $30 calls and selling $32 calls expiring in 28 days. This leverages positive implied volatility with substantial upside potential. Keep risk defined with this approach, targeting a key resistance level for profit capture.


October 27, 2024


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RRC        Range Resources

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Correlated Assets

Assets that tend to move strongly with RRC


XOP Forecast + Options Trading Strategies   XOP  SPDR Oil & Gas Exploration and Production (0.89)


CTRA Forecast + Options Trading Strategies   CTRA  Coterra Energy (0.88)


OVV Forecast + Options Trading Strategies   OVV  Ovintiv (0.82)


AR Forecast + Options Trading Strategies   AR  Antero Resources (0.81)


CVE Forecast + Options Trading Strategies   CVE  Cenovus Energy (0.77)



Uncorrelated Assets

Assets with little price relationship to RRC


CRUS Forecast + Options Trading Strategies   CRUS  Cirrus Logic (-0.0)


HDV Forecast + Options Trading Strategies   HDV  BlackRock Institutional Trust Company N.A. - iShares Core High Dividend (0.0)


RTX Forecast + Options Trading Strategies   RTX  Raytheon (-0.0)


ZIM Forecast + Options Trading Strategies   ZIM  Zim Integrated Shipping Services (0.0)


JELD Forecast + Options Trading Strategies   JELD  JELD-WEN (-0.0)



Anticorrelated Assets

Assets that tend to move strongly against RRC


CCI Forecast + Options Trading Strategies   CCI  Crown Castle International (-0.75)


LH Forecast + Options Trading Strategies   LH  Laboratory Corp. Of America (-0.76)


TYD Forecast + Options Trading Strategies   TYD  Direxion Daily 7-10 Year Treasury Bull 3X Shares (-0.77)


OLPX Forecast + Options Trading Strategies   OLPX  Olaplex (-0.77)


ZTS Forecast + Options Trading Strategies   ZTS  Zoetis (-0.77)







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