| Big trader stays bullish on Exxon | |
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A large investor is looking for more gains in Exxon Mobil before Thanksgiving.
optionMONSTER's Heat Seeker system shows that 23,000 November 82.50 calls were sold mostly for $1.65 and 23,000 November 87.50 were purchased for about $0.33. Volume was below open interest in the lower strike, indicating that a long position was rolled higher.
The trader likely bought the November 82.50s when shares were lower and is now taking profits. At the same time, he or she is using a portion of the proceeds to open a new position at a strike that is $5 higher.
Long calls lock in the price where investors can buy a stock, which lets them position for a rally with limited capital. That can be safer than purchasing shares directly because only the cost of the options can be lost on a pullback. The calls can be sold anytime before they expire but will lose value if the stock falls. (See our Education section)
XOM fell 1.81 percent to $80.99 yesterday. The energy giant has recovered all of its losses from the last two months, closing last week at its highest level since the end of July after the price of oil rebounded.
Total option volume in XOM reached 112,500 yesterday, nearly triple its daily session for the last month. Overall calls outpaced puts by more than 3.5 to 1.
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Exxon Mobil is a and oil producing company based in United states of america. Exxon Mobil is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is US$ 477.3 billions as of today (€ 429.4 billions). Its stock quote reached its lowest recent point on March 14, 1997 at US$ 100.12, and its highest recent level on September 06, 2024 at US$ 112.64. Exxon Mobil has 4 237 270 016 shares outstanding. |