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Exxon And Why You are Just As Smart As Me On This One.

 Trying to understand why oil prices fluctuate is a job in itself. Look at how Exxon  Mobile is trading. Here is your chance to play with the big boys in some of the most exciting option markets that we have had in a long time. Look at how Exxon  has traded in the last 30 days. These are big swings in a relatively short period of time. That's what helps in keeping the interest in playing options on Exxon so high. Now this. A five day chart on the morning on June 9th, a Monday. Look at the spike it had. Remember in my last blog I showed a spike in Deere only to watch a sell off two days later Now another five day chart, this time Exxon on Tuesday June 10th  around 2:45 .p.m. Look at how the stock is stepping up. Could it drop down to $104.50?  The chart shows that it could. I like Puts more than I like Calls in general because for lack of better words they are more unpredictable. Now this, a look at yesterday's action. We are looking at the 105 Puts. This shows h...
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A 2024 Post. So An Analyst Jump Started The Year.

It's the first trading session of the year and the x-mas chatter is that the world is still in a mess, consumers are overextended, rents might be softening and EV sales are hitting a rough patch. So what's the analyst jump start I am talking about?
This isn't the first time it has jumped in a while. Look at this one day jump in mid December a few years ago.
The stock also did jump from $15.92 on Sept 1st 2019 to $384.86 on Sept 1st 2021. Now look at the price of the 115 puts for this friday. The time of this reading was 1:48 p.m. after the morning jump was over.
So this analyst is really reporting nothing new and simple playing the odds of getting recognized for an early year claim, knowing that the media is starving for news. Yet trying to play the downside on news that is not really news is a tough way to start the year. There are better things to be watching. (See my last's weeks blog on Costco falling). Now see how this series of Puts closed out the day.
Let's see what happens next. It dropped again the following morning. It will not drop forever. Time to move on to something different. Now note the open interest as of yesterdays close. Read what it is. The answer is ONE. That is amazing! Just one. Then see below the number 353 which represents the closing open interest. Subtract this number from the number 1011 and that's the number of in and out contracts traded on the day. Day traders, true to their name were in and out, missing the sizeable drop in share price on the following morning. It all makes sense. Dine and dash.
It also makes me wonder how many insiders played the upside with advance knowledge of this upgrade coming. That is something the regulators should be jumping on.

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