Lions. XOM is a buy here.
READ MY COMMENTS BELOW IN THEIR ENTIRETY.
FIRST! I STRONGLY advise you to learn how to SELL puts and set up credit spreads. There is MUCH more to successful trading than just buying calls and or puts.
When you BUY an option, time decay immediately starts working against you. When you SELL an option, time decay immediately begins working FOR YOU…
3 ways to play this.
#1. You can buy just ITM calls which expire out 6 months. This strategy carries the most risk, but also has the highest profit potential. I WOULD DISCOURAGE YOU FROM UTILIZING THIS STRATEGY! A LOT OF RISK HERE.
#2. A BETTER STRATEGY IS THIS: Sell WAY OUT OF THE MONEY, at least 20% OTM, puts which expire out 1 month. This strategy carries less risk.
#3. THE BEST STRATEGY IS THIS: The least risky strategy is to set up a credit spread- and there are many ways to do this easily- I explain how to set up credit spreads in my book, *** link below.
I PERSONALLY LIKE TO UTILIZE EITHER SELLING PUTS, OR SETTING UP CREDIT SPREADS TO TRADE.
*** I cover each of the above strategies/how to set them up plus MUCH MORE in my book A (NOT) So Random Walk On Wall Street.
GM
Trading involves financial risk.
Looks like a BEAR ripped the A$$ off HD from Friday New Trade suggestion??? Makes me doubt a person's credibility when no follow up on trade suggestions are made, and this used to not be the case because list of current positions were provided along with some advice. I make my own trade decisions anyway so I'm only to blame if I make a bad trade, but there are many people who trusted Greg to give good trading advice that go lets hanging out to dry??? That is why this channel is dead now every since Greg got distracted by this FREAK SHOW and stopped giving solid trading advice, and once upon a time Greg's advice was somewhat useful to give you an
Idea of what might happen moving forward. RIPPING & SHREDDING!!!
XOM is one of my core stock positions and I'm up 33% this year as well as receive a 5.7% dividend every quarter, and I'm also LONG XOM with Call positions, but the price seems to be trading sideways every since the TREE HUGGERS who hate OIL got elected to the board of directors in a hostel takeover of management??? I think XOM will get above the $64.02 yearly high and move to $70 in a few weeks with the economy opening back up and summer travel season!!!