Exxon Again
It's five day chart as of a Tuesday evening. It closed the previous day at $116.69 and spiked on the opening. That was the best opening in days. A near double in price for sure on short term Call options. The same kind of morning spike happened two days earlier. Can I teach anyone to play Exxon options? Not really. Read some of my recent blogs of how it trades interday. The first twenty minutes of trading every morning is often when most of it's action happens. One thing I should say is that Exxon moves independently from what the DJIA index is doing. Here is how the 116 Calls and the 117 Calls did on the day. Up 94% and 85% respectively. All I can say is learn to pick your battles and if pick correctly, expect to be rewarded. Exxon as a trading vehicle is not going to go away.
