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.

Check out energy stocks making moves in the premarket.

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.

Also Read: Is Ford The Cheapest Stock In The Market?

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

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: Long IdeasOptionsMarketsMediaTrading IdeasCNBCMichael KhouwOptimize Advisors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!