Exxon Mobile (XOM) and Chevron Texaco (CVX) are two of nine Dow stocks holding gains late Wednesday after Apritl WTI crude added 2.8 percent to $98.10 per barrel. XOM is up $1.73 to $87.17 abnd options volume is more than double the average daily after 157000 contracts traded. March and April 90 calls are the most actives. The top trade of the day looks like a Jan 85 straddle at a hefty $15.20, 1000X. CVX has added $2.26 to $102.58 and options volume is 3X the average daily. 79000 contracts traded. Mar and April 105 calls are the most actives.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.