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A large investor apparently believes that upside potential will be limited in Occidental Petroleum for the next year.
optionMONSTER's tracking programs detected the sale of 4,000 January 2017 80 calls in one print for $2.20 on Friday. Volume surpassed open interest of 2,368 contracts, showing that this is a new position.
Short calls generate income and fix the price where a stock must be sold. The trade is usually done in conjunction with long shares in a covered-call strategy, reflecting a belief upside will be limited through expiration.(See our Coaching section)
OXY rose 4.49 percent to $68.83 on Friday and is up 8 percent in the last week. The oil and gas producer is scheduled to report earnings before the market opens on Thursday.
Overall option volume in the name was twice the daily average on Friday.
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Occidental Petroleum is a oil producing company based in United states of america. Occidental Petroleum is listed in United States of America. Its market capitalisation is US$ 51.8 billions as of today (€ 48.4 billions). Its stock quote reached its highest recent level on March 16, 2012 at US$ 99.99, and its lowest recent point on October 16, 2020 at US$ 10.00. Occidental Petroleum has 764 580 032 shares outstanding. |