Using MRO call Option to hedge against market drop
Bought a weekly call option on MRO to hedge against market correction. Marathon Oil is one of the US’s largest oil producers. If Russia invades Ukraine, I believe it will absorb a large percentage of global oil supply, and American oil refineries will possibly receive help from US govt. to ensure we have adequate supply. This is a short term play for me to (hopefully) snatch some Alpha while crypto (unfortunately) tumbles.
strike price = $23
expiry = 2/25/22
strike price = $23
expiry = 2/25/22
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