ConocoPhillips (COP) reported strong cash flow yesterday and said it would pay shareholders 45% of its operating cash flow. That makes COP stock looks cheap. One way to play it is to sell short one-month puts with a yield of at least 2%.
COP is at $107.23 in midday trading, up over 2% today. But it could still have more to go, based on its price targets. I discussed this in a Jan. 18 Barchart article ("ConocoPhillips Has a 3.42% Annual Yield, but Short-Put Investors Can Make 1.5% Monthly").
