XOP taking offXOP broke through resistance with strong volume. This has room to keep going Longby Market_Psychology2
XOP long setupDespite the terrible fundamentals, I see good money pump to oil exploration market for a while. 1st target is 37.0(Fib 23.6%) 2nd target is 46.3 (Fib 38.2%) Stop loss@ 31.0 to profit from breakout. If 31.0 fails, next support is 28.0 Longby UnknownUnicorn38279730
OPENING: XOP MAY 17TH 28/33 SHORT STRANGLE... for a 1.03 credit/contract. Metrics: Max Profit: $103 Max Loss/Buying Power Effect: Undefined/~3.85 Break Evens: 26.97/34.03 Delta: -6.81 Theta: 1.9 Notes: Going directionally neutral short strangle here with 30-day implied more than twice that of the broad market and giving myself a little room to manage intratrade. Will look to take profit at 50% max (.51).by NaughtyPinesUpdated 2
Waiting for a short on XOP using DRIP. long time coming.XOP has been bullish and grinding higher. Playing consolidation at lower prices via options and DRIP etf.Shortby TradeDoctaUpdated 0
Energy and Oil Companies on the move upThe daily chart looks like a possible head and shoulders bottom getting ready to run higher to $33 or $38 if news continues to be bullish with large oil inventory drawdowns and SA need oil prices to be higher.Longby dotnetphoenix3
XOP MAY 17TH 30 SHORT STRADDLE (CONT'D)This is a short straddle that started as a double diagonal. (See Post Below). I've been rolling the short straddle body out to generally at-the-money to take profit and to bring in additional credits. Although implied volatility (31%) is at the low end of its 52-week range, it is more than twice that of the broad market; SPY is at 14%. So far, I've collected 4.31/contract and will just continue to roll out as profitable opportunities present themselves or -- in the alternative, a side is approaching worthless and/or time is running out on the setup ... .by NaughtyPinesUpdated 2
OPENING: XOP FEB/MARCH 26/31/31/36 DOUBLE DIAGONAL... for a 1.92 per contract credit. Metrics: Max Loss on Setup: $308 Max Profit on Setup: $192 Delta: .98 Theta: 2.50 Notes: Another double diagonal, this time in the routinely high implied volatility XOP (currently 35.5%), a la the EEM double diagonal I put on earlier in the trading session. (See Post Below). I've gone shorter duration in the back month than usual in order to pay a bit less for the longs and on the notion that I will, in all likelihood, be adjusting/recentering the long strangle aspect at some point anyhow (oil, after all, can move).by NaughtyPinesUpdated 5
Long live the XOP As of Dec. 26th USOIL has been on a reversal from its 2018 Q4 correction. On Jan 10th we broke through the resistance area of $51.25. The XOP as we all know is directly related to USOIL as it tracks an equal-weighted index of companies in the US oil & gas exploration & production space. The XOP's first resistance area that was broken through was $29.90. As XOP continued to rise we hit our next level resistance on 1/9/19. Over the last 2 days we've had trouble breaking through the $30.73 mark. According to my charting we have approached the bottom of our 7 day channel. Our 7 day forecast would predict a bounce upward into the $31.34 area. However in the last 2 days we have been creating a rising wedge. We can see a breakout to $31 and up or a breakdown back to $29.73 and below possibly even to $27.50. Friday Jan 11 Pre Market will tell us a lot about where we go from here. If XOP has a breakout and move up look for: Price Tgt 1 - $31.34 Price Tgt 2 - $32.70 If XOP hits resistance and falls look for: Price Tgt 1 - $29.73 Price Tgt 2 - $27.50 Natural Gas futures have fallen in February while Oil futures are up in February. This could create a lateral movement in the XOP however I'm fairly confident in a Bullish move for the weeks coming up. Longby thesandage0
TRADE IDEA: XOP FEB/MARCH 25/30 UPWARD CALL DIAGONALMetrics: Max Loss/Buying Power Effect on Setup: $338/contract Max Profit on Setup: $162/contract Break Even: $28.38 versus $28.63 spot Debit Paid to Spread Width Ratio: 67.6% Delta: 39.2 Theta: .61 Notes: A bullish assumption shot at the low end of the range. Ordinarily, I like to go split month with these to give me more time to reduce cost basis, but there isn't an April expiry available yet, so going shorter duration (and therefore cheaper). Shooting for 50% max (.81/$81). I'll adjust the trade or cancel it in the a.m. pre-NY open if /CL price is substantially different from where it was at Friday close (48.31).Longby NaughtyPinesUpdated 3
OPENING: XOP JUNE/FEB 23/28 UPWARD CALL DIAGONAL... for a 3.86/contract debit. Metrics: Max Profit on Setup: $114/contract Max Loss on Setup: $386/contract Break Even: 26.86 vs. 26.75 spot Debit Paid to Spread With Ratio: 77.2% Delta: 30.39 Theta: 1.14 Notes: Somewhat dissatisfied with my OIH position (hey, I entered too early; it happens), adding some long petro with this, my preferred go-to. Will look for 50% max in profit ($57 or about 14.8% return on capital).Longby NaughtyPinesUpdated 227
Getting even more interesting on XOPAt levels and volumes high..nice risk vs reward for longLongby DeadDeedz4
XOP low risk buy at range lows VPA showing potential for buy down here and retestingLongby DeadDeedz5
Approaching supportHas been blasted over the last two months. Expecting a pull back from support over the next month, as produces cut back to regain control of oil prices. Stop loss at 28. Target 1 32+ final 36+Longby Dgains440