U.S. Markets close in 2 hrs 14 mins

Bulls back for more in Occidental

Pete Najarian (ask-pete@optionmonster.com)

Occidental Petroleum attracted bullish option activity yesterday for the second time in less than a week.

Last Thursday the energy company saw a huge roll from the April 95 calls to the August 105 strike, doubling the size of the position to 36,000 contracts. Yesterday traders returned to the name, buying more than 5,000 June 105 calls for $0.51 to $0.69 in volume that dwarfed the strike's previous open interest of just 84 contracts, according to optionMONSTER's Heat Seeker tracking system.

These long calls lock in the price where the stock can be purchased no matter how far it might climb. They could provide significant leverage and be sold at a profit if premiums rise with a rally, but the contracts will expire worthless if shares remain below $105 through expiration. (See our Education section)

OXY fell 0.53 percent to $96.93 yesterday, continuing to trade in a range that has been in place for more than a year. The oil and gas producer is scheduled to announced first-quarter results on the morning of May 5.

Total option volume in the name topped 22,000 contracts yesterday, almost double its daily average for the last month. Overall calls outnumbered puts by nearly 6 to 1, a reflection of the session's bullish sentiment.

(A version of this post appeared on InsideOptions Pro yesterday.)

More From optionMONSTER

  • Where Does Bill Gates Keep His Money?
    Business
    Investopedia

    Where Does Bill Gates Keep His Money?

    What do you do with your money when you're one of the world's wealthiest individuals? Bill Gates has amassed a net worth upwards of $91 billion as of 2018. Gates earned the majority of his vast fortune as one of the founders of Microsoft Corporation (MSFT) , where he served as CEO, chairman, and chief software architect. Gates was the largest individual shareholder of Microsoft as well, until May, 2014 when he stepped down from the chairmanship. Here is where this billionaire stashes some of his money. Investments in Corporations While Gates can credit Microsoft for the bulk of his current wealth, his shares in the companyin MSFT make up just around 20% of his holdings  today. The majority of

  • In One Tweet, Kylie Jenner Wiped Out $1.3 Billion of Snap's Market Value
    Business
    Bloomberg

    In One Tweet, Kylie Jenner Wiped Out $1.3 Billion of Snap's Market Value

    Snap Inc.’s flagship platform has lost some luster, at least according to one social-media influencer in the Kardashian-Jenner clan.The Snapchat parent’s shares sank as much as 7.2 percent Thursday, wiping out $1.3 billion in market value, on the heels

  • This Figure Skater Is Basically a One-Woman AC/DC Tribute Band. The Internet Is Rocking Out Accordingly.
    Celebrity
    Time

    This Figure Skater Is Basically a One-Woman AC/DC Tribute Band. The Internet Is Rocking Out Accordingly.

    Ivett Toth sure knows how to stand out in a crowded field of female figure skaters for the 2018 Winter Olympics. During the women’s figure skating short programs on Tuesday night in PyeongChang, Hungary’s Toth surprised crowds — both at the rink and around the world — with her unorthodox choice of music. Toth may be just 19, but there’s no doubt her clear love for the classic rock band transcends generational taste.

  • These Surprising Countries Now Have the Most Powerful Passport in the World
    World
    Time

    These Surprising Countries Now Have the Most Powerful Passport in the World

    For years, European countries have commanded the most powerful passports in the world. Now, that title belongs to Asia. The Passport Index, which ranks nations based on travel freedom and visa requirements upon entering foreign countries, declared Tuesday that South Korea now wields the world’s most powerful passport, joining Asian city-state Singapore atop the rankings. South Korea and Singapore now outrank Germany’s passport, which in recent times topped the charts.

  • Bill Gates reveals the two 'crazy things' he purchased since becoming a billionaire 30 years ago
    Celebrity
    Yahoo Finance Video

    Bill Gates reveals the two 'crazy things' he purchased since becoming a billionaire 30 years ago

    Bill Gates sat down with talk show host Ellen DeGeneres for the first time this week. Gates officially became a billionaire when he was 31 — the youngest billionaire in history, at the time. But the boost to his bank account didn't send him on a spending spree.

  • U.S. Courts Jailing Thousands over Civil Debts 'Without Due Process,' ACLU Says
    News
    Newsweek

    U.S. Courts Jailing Thousands over Civil Debts 'Without Due Process,' ACLU Says

    Thousands of people are being arrested and jailed each year because of outstanding civil debts, despite the United States banning debtors' prisons nearly 200 years ago, according to a new report from the American Civil Liberties Union.

  • Why Chesapeake Energy Corporation Stock Is Rocketing Today
    Business
    Motley Fool

    Why Chesapeake Energy Corporation Stock Is Rocketing Today

    Shares of Chesapeake Energy Corporation (NYSE: CHK) are soaring today, up nearly 15% as of 10:00 a.m. EST, after the company reported a strong fourth quarter and a brighter outlook for this year. Chesapeake Energy reported adjusted net income of $314 million, or $0.30 per share, in the fourth quarter. Fueling Chesapeake's stronger-than-expected results was a combination of an 11% increase in oil output, an 18% decline in operating expenses, and an improvement in oil and gas prices.

  • Business
    Money Talks News

    5 Ways to Avoid Paying Taxes on Your Social Security Benefits

    Some people have to pay federal income taxes on their Social Security benefits. This usually happens only if you have other substantial income (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return) in addition to your benefits.

  • GE eyes $4 billion in asset sales, has no plans to sell stock: CFO
    Business
    Reuters

    GE eyes $4 billion in asset sales, has no plans to sell stock: CFO

    General Electric Co (GE.N) has "line of sight" on the first $4 billion in asset sales under its plans for $20 billion in disposals, the company's chief financial officer said on Wednesday, while dismissing talk about selling shares to raise capital. Chief Financial Officer Jamie Miller, speaking to an investor conference organized by Citigroup in Miami, did not elaborate on the planned asset sales. Miller said GE does not plan to quickly sell its 62.5 percent stake in oilfield services business Baker Hughes (BHGE.N) before the expiration of a two-year lockup period, reversing an earlier stance that had cast uncertainty around Baker Hughes.

  • Would Pfizer Investors Win With a Bristol-Myers Squibb Acquisition?
    Business
    Motley Fool

    Would Pfizer Investors Win With a Bristol-Myers Squibb Acquisition?

    You can almost hear the sound of keyboards at Pfizer's (NYSE: PFE) headquarters in New York crunching the numbers on potential deals. The giant drugmaker was eerily quiet on the mergers and acquisitions (M&A) front last year. If Pfizer chooses to go big, I suspect the most likely acquisition candidate is Bristol-Myers Squibb (NYSE: BMY).

  • Boeing facing criticism for hard-nose supplier approach
    Business
    St. Louis Business Journal

    Boeing facing criticism for hard-nose supplier approach

    Airplane maker The Boeing Co. is facing heat these days for its determined stance in dealing with suppliers. Despite record orders, Boeing is getting some criticism for an initiative calling for some suppliers to cut costs, according to Bloomberg.  Boeing’s Partnering for Success initiative aims to streamline the manufacturer’s supplier chain. And based on financial returns — with its shares doubling since the start of 2017 — Boeing can argue its plan is working. However, Bloomberg cites suppliers who claim Boeing is seeking 10 percent price cuts for their products.  Boeing is coming off a bustling 2017. Boeing secured orders worth more than $90 billion in November alone.  Among the highlights

  • Energy Transfer Partners LP's Q4 Results Make Its Monster 12.4% Yield a Little Less Risky
    Business
    Motley Fool

    Energy Transfer Partners LP's Q4 Results Make Its Monster 12.4% Yield a Little Less Risky

    As expected, Energy Transfer Partners' (NYSE: ETP) growth engine continued gaining steam in the fourth quarter, with earnings and cash flow up sharply thanks to a slew of recently completed expansion projects.

  • Pelosi is the embodiment of everything that’s wrong with Washington: Kennedy
    Politics
    Fox Business Videos

    Pelosi is the embodiment of everything that’s wrong with Washington: Kennedy

    FBN’s Kennedy on House Minority Leader Nancy Pelosi’s negative remarks about President Trump’s tax reform plan.

  • Business
    InvestorPlace

    Nvidia Corporation Stock Will Keep Delivering for Years to Come

    Processing unit maker Nvidia Corporation (NASDAQ:NVDA) has had an impressive run over the past two years. The firm’s Graphics Processing Units (GPU’s) have taken off in popularity and their use throughout the gaming space has led NVDA stock to produce a slew of stellar quarterly results. After delivering triple digit gains last year and kicking off 2018 with growth of nearly 30% so far, Nvidia stock has been on investor’s radars for some time.

  • An Unlikely Challenger In The Electric Car Race
    Finance
    Oilprice.com

    An Unlikely Challenger In The Electric Car Race

    Initially, electric and now the development of autonomous cars has been a major disrupter for the auto industry, the effects of which we have only just begun to see. Traditional auto manufacturers were initially written off as having too much legacy investments in the internal combustion engine and insufficient technology to keep up with the development of electric and self-driving cars. While starting from a low base growth has been solid, and although the electric vehicle (EV) challenge has driven much improved economy from the internal combustion engine, EVs are still carving out a place for themselves as battery performance steadily improves and charging infrastructure expands.

  • Why Ivanka Trump Is Going to the Olympics
    Politics
    Fortune

    Why Ivanka Trump Is Going to the Olympics

    While high-level members of the North Korean delegation will also be present at the event, White House officials have asserted that Trump’s trip is not intended to facilitate a meeting with the North Koreans. Instead, Trump reportedly plans to focus on reaffirming U.S.-South Korean relations and cheer on American athletes participating in the Games. In a statement, Trump said, “I am honored to lead the U.S. delegation to the closing ceremonies of the PyeongChang 2018 Winter Olympics.

  • Can Alcohol Help You Live Longer? Here’s What the Research Really Says
    Health
    Time

    Can Alcohol Help You Live Longer? Here’s What the Research Really Says

    New research, which was presented at the American Association for the Advancement of Science’s annual conference, has found that moderate drinking is linked to a longer life. The results came from the 90+ Study, a research project out of the University of California Irvine’s Institute for Memory Impairments and Neurological Disorders that examines the habits of people who live to at least 90. Here’s what the research really says about alcohol and health.

  • Traders buy cryptocurrency for free after a glitch caused exchange to price coins at $0
    Business
    CNBC.com

    Traders buy cryptocurrency for free after a glitch caused exchange to price coins at $0

    Chris Ratcliffe | Bloomberg | Getty Images A glitch at a Japanese cryptocurrency exchange allowed some users to buy digital currencies for free, heightening concerns over the security of such trading platforms. Zaif, which is run by Tech Bureau Corp, and registered by the government, said that an error occurred with its price calculation system, allowing seven users to buy some digital coins for zero yen. The exchange did not say which cryptocurrencies those were. Six of the transactions have been voided. Zaif is trying to rectify the issue with the seventh customer who attempted to transfer the bitcoin from the exchange, a spokesperson told Reuters. The issue was discovered on February 16 and

  • Debt Settlement Can Make a Bad Money Situation Worse
    Business
    NerdWallet

    Debt Settlement Can Make a Bad Money Situation Worse

    It’s a spiral no one wants to experience, but many have: You lose a job or suffer a costly illness. The bills pile up. By the time your finances stabilize, calls from collectors are pouring in. In this situation, debt settlement — where creditors agree to settle your debts for less than you owe — may seem like the only fix. But this strategy carries risks, including a long-term hit to your credit score and no guarantee of resolving your debts. Your finances may seem beyond repair, but debt settlement could make things worse. There are only a couple scenarios where settlement makes sense, says Michael Bovee, president of Consumer Recovery Network, a debt settlement company. 1. You had one temporary

  • Hewlett Packard Enterprise earnings: Let the post-Meg Whitman era begin
    Business
    MarketWatch

    Hewlett Packard Enterprise earnings: Let the post-Meg Whitman era begin

    When Hewlett Packard Enterprise Co. reports earnings Thursday afternoon, there will be at least one big change. This week’s conference call will be the first to feature Chief Executive Antonio Neri, who took over the top spot in early February following the departure of Hewlett-Packard veteran Meg Whitman. HPE HPE, -1.63%  shares dropped 7.2% the day after the company’s last earnings report, which brought a disappointing outlook as well as the news of Whitman’s plans to step down. Thursday will mark an early opportunity for Neri to outline his vision for the company, highlight progress on the company’s goal of turning around the business, and reassure investors of a smooth transition. Investors

  • 55 percent of Americans can't define a key tax term
    Business
    CNBC

    55 percent of Americans can't define a key tax term

    If you feel confused or overwhelmed during tax season, you're not alone. According to a new report from NerdWallet , there's a lot of uncertainty when it comes to tax-saving strategies, income tax brackets and the new tax bill in general.

  • 'Abhorrent' Hoax Facebook Posts Are Claiming the Florida School Shooting Survivors Are 'Crisis Actors'
    News
    Time

    'Abhorrent' Hoax Facebook Posts Are Claiming the Florida School Shooting Survivors Are 'Crisis Actors'

    Facebook said Wednesday that it will remove posts circulating on the social network wrongly claiming that survivors of last week’s deadly Florida school shooting are “crisis actors” working on behalf of a liberal agenda. Facebook, Twitter and YouTube are giving a megaphone for trolls to shout to millions.

  • Business
    TheStreet.com

    3 Burning Issues Facing General Electric and Its New CFO This Week

    CFO Jamie Miller presented at two conferences Wednesday in the greater Miami area. At the corporate level GE has gone from a cash generator to a cash burner in the past two years, and that, more than any other factor, has destroyed value for GE shareholders.

  • 3 Stocks Warren Buffett Would Buy if He Were a Millennial
    Business
    Motley Fool

    3 Stocks Warren Buffett Would Buy if He Were a Millennial

    It's easy to see why Warren Buffett is considered the greatest investor of all time. His company Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) has become one of the most valuable in the world largely due to his investments, both in stocks and the companies

  • Get Long Alibaba Group Holding Ltd Stock, Even in This Uncertain Market
    Business
    InvestorPlace

    Get Long Alibaba Group Holding Ltd Stock, Even in This Uncertain Market

    While experts are talking about being in a correction, Alibaba Group Holding Ltd (NYSE:BABA) is up over 10% in 2018. The CBOE Volatility Index (VIX) after spending years around 12 is now exacting revenge on the bulls. Fundamentally BABA stock is not cheap, but since it’s still a growth stock this is not the parameter that matters most.