Fueling Your Portfolio

Friday, 13 Jun 2008 | 3:54 PM ET

Despite the price of oil, refiners have consistently been a hard trade, partly because they aren’t a pure play on crude’s inexorable rise as oil is an input cost. But that’s not stopping Karen Finerman from finding a trade anyway. She’s looking at Valero – particularly, the July $45 options.

Fueling Your Portfolio
Energy plays, with Fast Money's Karen Finerman, president of Metropolitan Capital

It’s a risky trade because there are so many moving parts. A big turn in anything, from the crack spread to the price of a barrel to demand, the price of a stock like Valero can be hard to predict. But the July calls are attractively priced, Finerman said.

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  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

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  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

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  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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