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Mark R. Hake, CFA

Is ConocoPhillips Stock at a Peak? - Covered Call COP Plays Look Attractive

COP ConocoPhillips Barchart Oil Iran

Despite the turmoil from the war in Iran, oil prices may be near a peak, at least in the short term. Analysts have pushed up ConocoPhillips (COP) price targets, but COP stock may be at a near-term peak. As a result, selling covered calls may be attractive.

COP closed at $127.19 on Monday, March 23, and it's been rising for the past 3 weeks since the Iran war started. But has it peaked? After all, oil prices are now below their peak.

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