Buy with a Hedge: Protecting a Long Position in Expand Energy While Capturing Upside
Expand Energy (EXE) trades like a well-funded natural gas operator: low leverage, healthy free cash flow and a single-digit P/E. The near-term trade is to establish a long position around $99.34 while buying protection to limit downside over the next 10 trading days, then hold for up to 180 trading days to capture upside from LNG export and higher …