Similar defensive plays in Chevron and Exxon (XOM) Mar 31st options (TheFlyOnTheWall)
FLY ON THE WALL 10:51 AM ET 2/14/2017
Symbol Last Price Change
CVX 112.38 -0.45 (-0.4%)
QUOTES AS OF 01:21:38 PM ET 02/14/2017
Similar defensive plays in Chevron(CVX) and Exxon (XOM) Mar 31st options. In Chevron(CVX), which is off 65c to $112.18 per share, 2.7K Mar 31st 117 calls sold at 60c, while 2.7K Mar 31st 112 puts bought for $2.05 and 4.1K Mar 31st 107 puts sold at 70c. Exxon is down 54c to $82.46 and 3.6K Mar 31st 86 calls sold at 44c, 3.6K Mar 31st 82 puts bought for $1.20, and 5.4K Mar 31st 78 puts sold at 30c. In both names, calls are sold to buy a put ratio spread and the strategy yields a max payout if shares settle at a price equal to the lowest strike at the end of next month.
