Traders are betting Wednesday that the recent runup in ExxonMobil ( XOM ) will continue. several strikes are seeing outsized trading today, including the Jan. 88 call, where 1,699 contracts have moved against open interest of 393. Pricing has been in the high-end of the bid-ask spread all day, indicating these new contracts are being bought to open.
InvestorsKeyhole Trade Alert
IK-> The technicals for XOM ($86.48 up $1.44) are bullish with an upward trend. The stock has support about $84.00. Look at the March 77.50/80 bull-put spread for a 20-cent credit. That's an 8.7% return and the stock has to fall by 7.5% to cause a problem. [InvestorsKeyhole, various news and data services]
Originally published on InvestorsObserver.com