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XOM

Option buyers bet on ExxonMobil to keep rising

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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]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Originally published on InvestorsObserver.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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