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Monday, September 16, 2019 10:54:28 PM
By: Schaeffer's Investment Research | September 16, 2019
EXXON MOBIL STOCK EXTENDS RALLY
The oil sector, on the other hand, is enjoying a boost amid the drone strike news, lifting Dow member Exxon 1.5% higher to trade at $73.74. As a result, XOM stock is on pace for its first close atop its 80-day moving average since May 1. Familiar pressure at its 200-day moving average, however, lingers just overhead.
There was a decent amount of pessimism priced into the oil major stock heading into today, which is likely contributing to the XOM rally. The stock's 10-day put/call volume ratio across the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks in the 84th percentile of its annual range, suggesting a healthier appetite for bearish bets over bullish on Exxon in recent weeks.
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