XOM

Discussion in 'Stocks' started by xandman, Feb 7, 2017.

  1. xandman

    xandman

    Anybody looking at XOM after the big write down? It seems fairly priced to current oil levels. No premium for the OPEC agreement or Trump effect, either.

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  2. DAYMSTR

    DAYMSTR

    Im looking at it for equity to write covered calls on at 78.23 or MAYBE 79.01 in that range, in the short term I am DITM Naked PUTS for scalping
     
  3. R123

    R123

    Yes, for last 2 weeks I have been buying on spikes down, then selling on rebound stalls, the result has been a series of small profits, not the goal but the belief a good bump in the oilfields is around the corner.
    I will keep doing this with direct share purchases and some scaling in with ATM weekly short puts. I have also been doing this with NOV, WFT NBR, HAL.
    NOV and WFT have paid off with some nice gains, HAL better than XOM but not great, NBR in red but about 1/3rd of way to my stop. I will keep doing this until get a nice bump to ride or get stopped out.
     
  4. DAYMSTR

    DAYMSTR

    Speaking of HAL, look at this 02/07/2017 - State Street Corp reports 5.03 pct passive stake in Halliburton as of Dec. 31 - SEC filing
     
  5. DAYMSTR

    DAYMSTR

    I REALLY like it long now
     
    murray t turtle likes this.
  6. DAYMSTR

    DAYMSTR

    What do you think about NE as a long covered call position as you can buy more shares with less money b/c it is liek $6 bucks a share? I am looking for BP to bounce back tomorrow or the next day and then dip again as they got drilled today. I own WLL and like it LONG LONG and have some CCalls on it as they have great management, this reminds me of last year this time when oil was cheap, if XLE drops to below 68 I will buy it again as I HOPE oil just keeps going down so I can buy in cheaply on it
     
  7. R123

    R123

    Thanks,
    No missed that today, that reaffirms my conviction, hopefully a rebound.
     
  8. xandman

    xandman

    WTI is actually at the point of a downward range breakout due to tomorrow's energy report. I suspect that the move has passed and it will resume trading the $51-$54 range. Btw, $51 was the OPEC agreement move.

    I don't know much about the drillers except that I did write some covered calls during better times in the industry. I think it's like writing biotech ccalls with a less massive downside. We are in lean times, however.
     
    DAYMSTR likes this.
  9. R123

    R123

    NE I play but longer term , so CCalls fine. NE offshore drilling which I don't think will bounce as quickly as on land ( But I am no analyst, just a guess ). I don't want oil to drop to much because then everything we are talking about will collapse like a cheap tent and just sit there. But I am long now, so I don't want the hit. :D
     
  10. R123

    R123

    BP yes, I sold some short ITM puts today, because I will take the stock at this level.
     
    #10     Feb 7, 2017