is a correlative equity to XOM
. These are consist in trend moves comparable to other equities in their sector. You want volatility
for the option's play. Right now, CVX
is at a crossroads with an IV of 73 and HV 71. With earnings
coming up, we're expecting a shift north till the end of this year's first quarter. That's a good play to go deep in options. FEB (22) Call Strike 105 is our target for front month. APR 15 (78) Call Strike is 110 and/or 115. The decrease in IV over the next months in consideration of the options months shows favorable signs of going north. Tomorrow is we'll know.