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SPDR S&P Oil & Gas Explor & Product

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XOP trade ideas

XOP - DAILY CHARTXOP - SPDR S&P Oil & Gas Exploration & Production ETF The ETFs seems poised to be affected by the recent news regarding the Oil output, that it's increasing due to the latest report from Iran that discovered a new oil field with over 50 billion barrels, plus the announcement from OPEC + that isn't going to cut its Oil output for now. Working in favor of the asset we have for now only the perspective of increase of revenue on this quarter due the Winter season, but this its a weak argument compared to the current geopolitical context.
AMEX:XOP
by Igor-Silva
XOP Forms a Potential Bear TrapThe Oil and Gas Exploration and Production industry has been hammered. I typically have no interest in weak sectors...until there's a potential bear trap which sets up a major bullish opportunity. That setup could be underway now. A few weeks ago XOP broke below the 2016 low, consolidated, and has since jumped back above the 2016 low. This was on massive volume. Volume has been escalating, and in July and August, it looks like the bulls threw in the towel as the price went below the 2016 low. This has been followed by even larger volume to the upside this week. A nice shift from fearful and excessive supply to hungry demand. The profit target is a relatively conservative estimate from this oversold condition. But of course, we'll have to see. This a medium-term trade, and will likely take 9 to 18 months to unfold. Disclosure: Likely initiating a long this week.
AMEX:XOPLong
by CoryMitchell-CMT
OPENING: XOP NOV 15TH 16/SEPT 20TH 22 LONG CALL DIAGONAL... for a 4.89 debit. Metrics: Max Profit: $111/contract Max Loss: $489/contract Break Even: 20.89 Delta/Theta: 38.75/.98 Debit Paid to Spread With Ratio: 81.5% Notes: Going long XOP at long-term lows with a 90/50 long call diagonal (i.e., 90 delta for the long call/50 for the short). Going a little more aggressive with the short call than I usually would to get a little more room to the downside. Shooting for 50% max.
AMEX:XOPLong
by NaughtyPines