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Bulls Hit Options Gusher on Occidental (OXY)

by | Mar 1, 2022 | Options

In Tuesday’s Blitz Daily with Lance Ippolito, we take a look at popular energy stock Occidental Petroleum as oil prices soar in the wake of Russian economic sanctions.

When the entire free world decides to take the third-largest exporter of crude oil off the market, the price of oil is bound to head in one direction — up.

So when you combine that with a recent earnings beat, you get a lot of bullish price action.

That’s exactly what’s been happening to Occidental since fighting broke out in Ukraine.

This past Thursday saw the oil producer crush earnings expectations by nearly 35% while also increasing its dividend payout. The news came right on the heels of Russia’s declaration of war.

OXY Chart

And though the stock sold off into the weekend, markets had a change of heart at Monday’s open — catapulting 13% higher from Friday’s close. That momentum carried into Tuesday’s sessions, where the stock jumped an additional 9%.

The two-day move attracted bullish options traders as the Blitz Tracker spotted several outsized options trades. One buyer swept up over 2,500 contracts of the March 18 $49 strike call option for more than $403,000 in premium!

And that wasn’t the only commodity name burning up the tape Tuesday… I have two more top trades lined up and waiting below…

  • Freeport-McMoRan Inc. (NYSE: FCX): April 14 $60 CALL. 
  • Occidental Petroleum Corp. (NYSE: OXY): March 18 $49 CALL.
  • Bank of America Corp. (NYSE: BAC): March 11 $40 CALL.

To find out how I trade Shadow Blitzes like these as soon as I see them, tune in at 1 p.m. EST on Wednesday, March 2, for my LIVE 24-Hour “Shadow Blitz Summit”! 

Grab your seat now!

Blitz Daily With Lance Ippolitto

At Weekly Blitz Alerts, we like to print money, baby! I know, I know, you’re probably thinking, “Lance, how do we do that? Print money? Come on…”  

But in all seriousness, we follow the big fish and what they’re buying. And we do that with my proprietary Blitz Tracker, which alerts me to big, institutional options order flow throughout the day. Then we get in on these plays and follow the “smart money.”  

By doing this, we cash in whether the broader market is going up, down or sideways. 

The Blitz Daily with Lance Ippolito is where I go over a handful of options trades that hit my Blitz Tracker each day, Monday through Thursday. I will break down the trade with the sexiest order flow and tell you exactly what I think can happen with that stock by the next day’s opening bell. 

If you want in on these fast-moving options plays, with entry, exit and profit targets sent directly to you via text and email alerts, be sure to sign up for Weekly Blitz Alerts!  

In the meantime, you can follow me @LanceIppolito on Twitter, Instagram and our YouTube channel for more trading insights and tips. And as always, you can find me right here talking stocks and options trading — and printing money — on WealthPress.com!

WRITTEN BY<br>Lance Ippolito

Lance Ippolito

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