The EPD setup the barrel bears miss
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EPD23 May· 9 min
Hank Brooks
5 notes · 7 subscribers · publishing since May 2026
Pipelines, coverage ratios, and durable distributions for income-minded investors.
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Notes
5Reading WMB through the spread
Inventories are drawing faster than the curve implies — backwardation tells the story.
WMB26 Apr· 10 min
KMI
FreeThe KMI setup the barrel bears miss
Inventories are drawing faster than the curve implies — backwardation tells the story.
KMI21 Apr· 4 min
KMI: distributions are covered
Subscribers get the full thesis, the levels, and my positioning on KMI. Subscribe to read on.
KMI8 Apr· 5 min
ET
FreeWhy ET screens cheap on FCF
Inventories are drawing faster than the curve implies — backwardation tells the story.
ET6 Apr· 6 min
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Track Record
VerifiedLast 30 Days · Shares+24.3%
Cumulative Return · 7 Closed
86%
Win Rate
+5.7%
Best Call
9d
Average Hold
100
Closed Calls · 8 in 30 Days
META Call $453.06
$6.83 → $7.19 · Jul 9 – Jul 20 · 11d Hold · exp Jul 27
+5.3%
CRM Long
$319.10 → $332.31 · Jul 15 – Jul 19 · 4d Hold
+4.1%
TSM Long
$161.04 → $168.01 · Jul 2 – Jul 13 · 11d Hold
+4.3%
V Short
$171.11 → $164.09 · Jul 3 – Jul 12 · 9d Hold
+4.1%
Gold (GLD) Long
$62.03 → $60.42 · Jun 28 – Jul 9 · 12d Hold
-2.6%
ASML Short
$387.87 → $378.56 · Jul 3 – Jul 9 · 6d Hold
+2.4%
TSM Long
$196.92 → $208.11 · Jun 24 – Jul 2 · 8d Hold
+5.7%
PYPL Long
$319.42 → $333.12 · Jun 21 – Jul 2 · 11d Hold
+4.3%
Live Calls Are Subscriber-Only
The verified record above is public. Subscribe to see live calls as they open — entry, conviction, settlement, and the full thesis.
OptionsModeled
+5.3%
Avg Modeled Return · 1 Closed
100%
Win Rate
+5.3%
Best Call
11d
Average Hold
0%
Each bar is one closed option call's modeled return, oldest to newest. Premiums are modeled with Black-Scholes from the live underlying + its historical volatility, and settle at intrinsic value on expiry — a consistent estimate, not exact traded fills.
Opinion. The author may or may not hold positions discussed. Not advice. Not a financial promotion approved under FSMA s.21. Quote data is delayed. Figures are computed automatically from third-party market data and may contain errors; option figures are modeled, not traded fills. Past performance is not a reliable indicator of future results.