$CNX - CNX Resources: Striking Natural Gas Gold or Running on Fumes?

10 year rounded base + flows

Overview of CNX Resources Corporation ($CNX):

Company Background: CNX Resources Corporation is a leading independent natural gas company based in Pennsylvania. The company’s primary operations are focused on the Appalachian Basin, which includes some of the largest and most productive natural gas fields in the United States. Since it’s a natural gas producer, it’s highly dependent on the price of natural gas.

If you listened to the AI interviews in the past months, the consensus is natural gas powers AI data centers in the near term….

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So it turns out, I traded this stock before…. In August 09 bought shares for 33.5 and sold it in DEC 09 for 40.8.

Since then, it’s done nothing except disappoint... until recently

It’s been in a huge rounded base since October 2014 and since last month, has been going up exponentially faster. Generally you don’t see these setups often but they often move violently to the upside - Think Silver in 2024, Uranium in 2023…

What brought this stock to my attention?
Simple - options flows

I’m not going to over complicate this trade… Follow the whale….

They paid 1.75-1.8 for these options….

Personally using a monthly loss of 32 as my stop but at those levels (depending on when that level is hit, this option is more or less worthless)….