Trade Idea - $OXY - Inverse Head & Shoulders
OXY Inverse Head & Shoulders (see chart)Large volume spike on 1/24/22
Options Flow > 60% Bullish - Strikes of note are 1/21/22 $39 C & $36 C; 3/18/22 $40 C
Energy Sector saw a 17% increase in Call volumes with a 19% decrease in Put volumes.
Conservative strategy is to wait and buy 3/18 strikes on retest of neckline.
Aggressive strategy is 1/21 strikes if ticker shows strength at market open on 1/18.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.