I'm not going to play this particular one, as I've already got more than my fair share of oil
and gas plays on at the moment ( OIH
, HES), but IVR/IV hasn't been this high in XOM
in quite some time (79/26).
Here's what I would do were I not so heavily into the sector right now:
Dec 31st 72/84.5 short strangle for 2.01 credit
Max Profit: $201 per contract
BPE: ~ $977