There are times I feel safer playing Exxon options than I do playing options on other stocks. Why? Well today this happened and the options didn't move all that much.
What the heck was all that stuff? It was information that flows. It's humbling to read it. There are so many parts in motion which somehow mesh together to create Exxon's price at any one momeent. What I like about trading Exxon is that when it moves, it moves quickly. That plus when it does move the options on them move a chunk at a time. That can be a good thing. Here is Exxon's five day chart. It's had some recent really big moves.
I picked something difficult. Two series of options on Exxon that expire at 3:00 p.m. tomorow. Here is how they closed today, a Thursday. Let's be clear. This is not a situation I would like to be in.
Which way is the stock going to move on the opening? I note that there are four times more Calls outstanding than there are Puts. It's not uncommon to see things set up that way. One last thing. A chart showing how Exxon just finished out trading on the day. This time it's pretty boring.
Comments