Oil & Gas Stock for Options Bulls

There is plenty of pessimism surrounding the stock

May 17, 2024 at 1:20 PM
facebook X logo linkedin


Subscribers to Schaeffer's Weekend Trader options recommendation service received this XOM commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why Weekend Trader is one of our most popular options trading services.

Energy giant Exxon Mobil Corp (NYSE:XOM) has seen a cup and handle pattern pullback to the 50-day moving average, into 2023 zone highs and is currently pushing back above its September peak. The 115 call level will be cut by 50% in the May standard expiration series, potentially releasing price action to move higher.

XOM WT repost

At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security’s 50-day put/call volume ratio comes in the 95th annual percentile, leaving ample room for bears to unwind and push shares higher. Analysts have ample room for upgrades too, with seven in coverage sporting a tepid "hold" recommendation. 
 
Options are looking affordable, too, per the stock’s Schaeffer’s Volatility Index (SVI) of 15%, which ranks in the lowest percentile in the last 12 months. Our recommended call option has a leverage ratio of 14.04, and will double on a 6.83 rise in the underlying security.  

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!