Traders Expect Exxon Mobil Rally To Continue

Shares of Exxon Mobil Corp XOM has risen by almost 63% year to date.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Exxon Mobil traded more than 2 times its average daily volume on Tuesday. Calls outpaced puts by 2:1, he added.

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There was a buyer of 1,800 of the September 115 calls at $2.38 per contract on average, Khouw mentioned. The trades see shares of Exxon Mobil climbing at least 15% by September expiration, he added.

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XOM Price Action: Shares of Exxon Mobil added 4.57% to close trading at $103.37 on Tuesday.

XOMExxon Mobil Corp

$113.410.19%