Trader Makes a $680,000 Bet on More Upside in Exxon Mobil Corporation (XOM)

Exxon Mobil Corporation (XOM) is a refiner and marketer of oil and gas in countries around the world. The company’s stock is currently trading around $102.19 in a 52 week range of $84.79-$102.19. The stock has been doing very well this year with shares touching new 52 week highs today and stock higher by nearly 1% year to date. Options traders seem to think the stock will continue higher as we have seen some very bullish unusual options activity during today’s trading session. Earlier this morning a trader bought 8,583 XOM Oct 110 calls for $0.80. This is a very bullish trade that involves this trade investing more than $680,000 in capital. With stock trading well above the Ichimoku Cloud and on new 52 week highs I decided to get long XOM with paper and buy these calls for $0.80.

My Trade: I bought 200 XOM Oct 110 Calls for $0.80
Risk: $80 per 1 lot
Reward: Unlimited
Breakeven: $110.80

Andrew Keene
KeeneOnTheMarket.com

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