Trade of the Week: Unusual Options Activity in Exxon Mobil

Oil, Options, Videos

Just recently, there has been some unusual options activity in Exxon Mobil (XOM). The oil and gas giant has seen its stock price go higher on news of a surprise cut in oil production from Saudi Arabia. A cut in production is almost always bullish for oil companies like XOM.

In response, a trader placed a large put spread (or rolled up a lot of puts to a higher strike) which makes money if the share price drops. This is likely a hedge against a large position in the stock. After a big up day, someone may be looking to protect their profits in case the share price goes back down in the next couple weeks.

$500 into $678,906?

If you had followed Jay Soloff’s 2018 trades, with a little luck, you could’ve turned $500 into as much as $678,906.

That sounds unbelievable. But you gotta see how it’s possible.

If you can scrounge together $500 in cash, it could’ve been worth a small fortune today.

Check out how it could’ve happened for you, click here.

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