Will $XOM pullback after earnings on 10/28?
Yellow vertical lines mark earnings days.
Gray boxes show price action afterwards - given the stock's run up since end of Sept, and seeing RSI and stochastic with price at all time highs - I like the reward/risk of buying 11/4 or 11/18 puts.
Today the top 10 November volumes are in call strikes and one 11/18 97.50 put. I cannot say if they are being bought or sold.
Of note, the 11/4 110C has 3,700 OI with 2500 volume today.
For the 10/28 expiry, the 110C has 10k volume today with 6.7k OI. Call volumes greatly exceed put volumes and today's P/C ratio is 0.52 (P/C ratio OI = 0.82).
My own trade design is a counter-trend idea. I rarely trade through earnings but in this case I like the technical-based idea and can hold a few days at least.
Gray boxes show price action afterwards - given the stock's run up since end of Sept, and seeing RSI and stochastic with price at all time highs - I like the reward/risk of buying 11/4 or 11/18 puts.
Today the top 10 November volumes are in call strikes and one 11/18 97.50 put. I cannot say if they are being bought or sold.
Of note, the 11/4 110C has 3,700 OI with 2500 volume today.
For the 10/28 expiry, the 110C has 10k volume today with 6.7k OI. Call volumes greatly exceed put volumes and today's P/C ratio is 0.52 (P/C ratio OI = 0.82).
My own trade design is a counter-trend idea. I rarely trade through earnings but in this case I like the technical-based idea and can hold a few days at least.
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