| Calls look for quick pop in Occidental | |
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Short-term traders are bullish on Occidental Petroleum.
optionMONSTER's Heat Seeker tracking program detected the purchase of about 3,000 Weekly 67 calls expiring on Dec. 24 for $0.60 to $1.02 today. Volume was more than 18 times the open interest in the strike, which indicates that new money was put to work.Another 1,500 Weekly 67.50 calls in the same expiration were bought for $0.40 to $0.75 against open interest of 106 contracts.
Long calls lock in the price where investors can buy stock, allowing them to profit from a rally with limited capital at risk. Their cheap cost can also generate significant leverage on a percentage basis if shares move in the right direction.(See our Coaching section)
OXY is up 2.48 percent to $67.78 today but is down 12 percent in the last month. The oil and gas producer is expected to report quarterly results on Jan. 28.
Overall option volume is about average in OXY so far today, but total calls outnumber puts by a bullish 9-to-1 ratio.
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Occidental Petroleum is a oil producing company based in United states of america. Occidental Petroleum is listed in United States of America. Its market capitalisation is US$ 38.2 billions as of today (€ 34.3 billions). Its stock quote reached its highest recent level on March 16, 2012 at US$ 99.99, and its lowest recent point on October 16, 2020 at US$ 10.00. Occidental Petroleum has 764 580 032 shares outstanding. |