Occidental Petroleum (OXY) stock closed up 1.49% on Friday and has risen 23% since the end of February. Even if it's not a peak, it might make sense to sell OXY covered calls, given the high out-of-the-money one-month expiry OXY call premiums.
OXY is at $65.32, up 23.1% from $23.08 at the end of February, right before the Iran war started. And it's up almost $20 or 43.6% since Feb 12 ($45.49). Has it reached a peak?
