Hmm. Who is going to benefit the most from oil prices going up? Maybe the biggest integrated and hedged oil company in the business? You betcha.
I bought calls on XOM at the 72.50 strike 3 trading days ago and got in with a $73 price entry. I'm planning to ride XOM up until it hits resistance at 1 of my two target points highlighted in green. I have highlighted key points of resistance and support as a nice visual.
I bought it only $6 away from its 52 Week low and I am planning on closing it at the $82.50-$87.25 price range.