There has been some unusual options activity in Exxon Mobil
(XOM). The oil and gas giant has seen its stock price go higher on news of a surprise cut in
oil production from Saudi Arabia. A cut in production is almost always bullish for oil
companies like XOM. In response, a trader placed a large put spread (or rolled up a lot of
puts to a higher strike) which makes money if the share price drops. This is likely a hedge
against a large position in the stock. After a big up day, someone may be looking to protect
their profits in case the share price goes back down in the next couple weeks.
$500 into $678,906?
If you had followed Jay Soloff’s 2018 trades, with a little luck, you could’ve turned $500 into as much as $678,906. That sounds unbelievable. But you gotta see how it’s possible.
If you can scrounge together $500 in cash, it could’ve been worth a small fortune today. Check out how it could’ve happened for you, click here.