by next week, friday, option expiration XOM will be around $69. just look at the news about tankers holding oil, and the technical graph.http://finance.yahoo.com/q/ta?s=XOM&t=3m&l=on&z=m&q=l&p=m50&a=fs,m26-12-9,r14&c=think & trade
...and if it does, a great opportunity to accumulate.
im with ya bought the 75 puts cost 2.50 hope to sell for 5 plus by end of week jmo
Still holding those shorts?Getting the opportunity to make them pay off on a swing trade might just work out.Still say XOM is a good long-term buy under 70...
What is your bet when and at what price it makes sense to buy?rgds,P