Short XOM/ buy 10/6/23 118 PUTS
Today Exxon is making a a double top and squeezing higher as Crude Oil has a massive squeeze higher and the stocks are following. The stock is already widely owned by Wall Street, it’s not a higher-growth Oil exploration company, so it’s very comical to see the panic to own this megacap today. I expect a pullback in XOM with or without Crude oil pullback before the month settles as the stock has run so hard over the last month. We’re also at a key resistance level on the stockstotrade chart.
