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Barchart
Barchart
Mark R. Hake, CFA

ConocoPhillips Put Options Look Attractive to Short Sellers as Oil Rises

COP ConocoPhillips Oil Barchart

Oil prices keep rising, now over $105, pushing ConocoPhillips stock higher. One play is to collect income by selling short COP put options every month. This play works well for value investors, as I showed in a previous Barchart article. It's time to repeat this cash-secured short-put play.

COP closed at $122.41 on Friday, May 15, up almost 3% (+2.89%). It's up from a recent trough of $113.87 on May 8, but still below a recent peak price of $133.80 on March 27. 

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