In morning trading on Oct. 4, Barchart reported large unusual activity in Exxon (XOM) put options. These were in deep out-of-the-money puts. Some investors may be doing this to collect extra income.
For example, the Barchart Unusual Stock Options Activity Report showed that over 20,000 put contracts were traded at the $100 strike price for expiration on December 15, 2023. That is 72 days from now and the strike price is over $12 below (i.e., out-of-the-money) today's spot price of $112.39.
