Tesoro upgraded to Outperform from Neutral at Credit Suisse Credit Suisse upgraded Tesoro based on expectations the BP Carson City deal will close, long-term EBITDA, and a seasonal recovery in West Coast cracks. Price target raised to $60 from $53.
Tesoro options active on speculation of a conference cancellation Tesoro October 98 and 100 calls are active on total call volume of 6K contracts (4K puts) following speculation of a conference cancellation. September weekly call option implied volatility is at 42, October is 36; compared to its 52-week range of 26 to 56. Active options volume suggests traders taking positions for price movement.