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An energy company that conducts its business through various subsidiaries including a merchant energy business and Baltimore Gas and Electric Company.
Normally in a recessionary environment utility stocks are seen as a safe harbor and can be counted on to proved stable dividends and limited downside risk. However that has been far from the case this time around. Constellation is trading right at the top of a downward trend line which has been in place since the start of the year, and we see this as a good risk/reward opportunity to the downside. The selling point for this company was their nuclear power plans, however it now looks like new nuclear plants in the US won't be more than a thought for years to come. Long July $85 Put options.
Good call. Hopefully you exited your puts at the right time.
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