Why ExxonMobil Could Continue To Rally

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that trading in ExxonMobil Corp. XOM implied a move of about 3.4% on Thursday. This was higher than the average of 2.7% move in the last eight reported quarters, he said.

The stock traded at 1.3 times its average daily call volume on Thursday, Khouw added.

Check out other stocks making moves in the premarket.

There were buyers of 1,000 of the December 120 calls at an average price of $1.60 per contract, Khouw said. The traders expect ExxonMobil’s stock to rise by at least 12.5% by December expiration, he added.

XOM Price Action: Shares of ExxonMobil had risen by 0.38% to close at $107.55 on Thursday.

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