Trade of the Week: Exxon Mobile (XOM)

10/13/2020 10:00 am EST

Focus: OPTIONS

Jay Soloff

Options Portfolio Manager, Options Floor Trader PRO

It’s been a long time since Exxon Mobil (XOM) has been in the news, but someone feels the stock could go higher as a large block of calls was just purchased, observes Jay Soloff of Investors Alley.

The oil powerhouse used to be the largest company in the world, but now it doesn’t even crack the top 50 companies in terms of market cap. However, the stock was up 5% one day last week after the company made headlines for losing its “biggest oil company” crown to Chevron. At least one big player feels that XOM stock could go higher after earnings at the end of the month. A very large block of calls was purchased to express this (likely) bullish view.

Learn more about Jay Soloff at Investors Alley.

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