27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Deep-pocketed investors have adopted a bearish approach towards Exxon Mobil (NYSE:XOM), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in XOM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Exxon Mobil. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 52% bearish. Among these notable options, 6 are puts, totaling $396,414, and 11 are calls, amounting to $558,730.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $92.5 and $125.0 for Exxon Mobil, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Exxon Mobil stands at 8822.21, with a total volume reaching 10,595.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Exxon Mobil, situated within the strike price corridor from $92.5 to $125.0, throughout the last 30 days.
Exxon Mobil Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| XOM | CALL | SWEEP | BULLISH | 04/19/24 | $110.00 | $210.0K | 28.9K | 3.9K |
| XOM | PUT | SWEEP | BULLISH | 06/21/24 | $110.00 | $155.4K | 4.4K | 535 |
| XOM | PUT | SWEEP | NEUTRAL | 12/20/24 | $115.00 | $87.8K | 489 | 5 |
| XOM | CALL | TRADE | BULLISH | 05/17/24 | $120.00 | $55.0K | 12.3K | 1.5K |
| XOM | CALL | SWEEP | NEUTRAL | 04/19/24 | $105.00 | $53.2K | 33.8K | 333 |
About Exxon Mobil
ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 2.4 million barrels of liquids and 8.3 billion cubic feet of natural gas per day. At the end of 2022, reserves were 17.7 billion barrels of oil equivalent, 65% of which were liquids. The company is the world's largest refiner with a total global refining capacity of 4.6 million barrels of oil per day and is one of the world's largest manufacturers of commodity and specialty chemicals.
Having examined the options trading patterns of Exxon Mobil, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Exxon Mobil
- Currently trading with a volume of 7,546,452, the XOM's price is down by -0.7%, now at $112.3.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 37 days.
Expert Opinions on Exxon Mobil
2 market experts have recently issued ratings for this stock, with a consensus target price of $127.5.
- An analyst from Mizuho persists with their Neutral rating on Exxon Mobil, maintaining a target price of $125.
- An analyst from Piper Sandler persists with their Overweight rating on Exxon Mobil, maintaining a target price of $130.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Exxon Mobil, Benzinga Pro gives you real-time options trades alerts.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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