A change in the name and ticker of portfolio holding Statoil (STO).
The explanation offered by the company is that it wanted to remove “oil” from its name to better reflect the company’s increasing emphasis on other forms of energy including wind power.
The new name is Equinor with the ticker of EQNR on the New York stock exchange. We are in the process of changing the name and ticker in the Jubak Picks portfolio where I hold Equinor shares. I bought Statoil shares back on May 10, 2012 at $21.01.
In the Volatility Portfolio on my subscription sites JugglingWithKnives.com and JubakAM.com where I held Statoil October 19, 2018 call options (strike price $25) that I purchased for the portfolio on April 12, 2018, we will make the change to the new options ticker under the Equinor name of EQNR181019C000225000. I bought these options at $1.92.
Full disclosure: I own Equinor October 19, 2018 call options (strike price of $25) in my personal portfolios.