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Benzinga

Business

Priya Nigam

Traders Expect Exxon Mobil Rally To Continue

Exxon Mobil Exxon Exxon Mobil Corp NYSE Michael Khouw

Shares of Exxon Mobil Corp (NYSE:XOM) has risen by almost 63% year to date.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that Exxon Mobil traded more than 2 times its average daily volume on Tuesday. Calls outpaced puts by 2:1, he added.

Check out energy stocks making moves in the premarket.

There was a buyer of 1,800 of the September 115 calls at $2.38 per contract on average, Khouw mentioned. The trades see shares of Exxon Mobil climbing at least 15% by September expiration, he added.

Also Read: Is Ford The Cheapest Stock In The Market?

XOM Price Action: Shares of Exxon Mobil added 4.57% to close trading at $103.37 on Tuesday.

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