In Thursday’s Blitz Daily, we’re looking at energy company Occidental Petroleum as the stock bounces back from Wednesday’s sector sell-off.
As I mentioned in the previous installment of Blitz Daily, the bulls have been all over energy stocks for the past several weeks… Especially when there’s blood in the streets. Well, Thursday’s trading was no exception. After a quick sell-off, the big boys were back, flooding the tape with more calls in OXY!
Energy stocks are poised to rip higher as we head into winter, and the bulls are here for it. For the third day in a row, institutional buyers have pushed OXY up the charts and onto the Blitz Daily’s radar.
This time they’re switching it up with some shorter-dated flow. Buyers snapped up 4,307 contracts of the Oct. 15 expiration, $33 strike calls for more than $362,000 in premium! They love it. They want more of it. And I can’t disagree!
This was just one of the big trades hitting the scanner Thursday, including some puts to help hedge against this nasty market volatility….
- Snap Inc. (NYSE: SNAP): Oct. 22, $79.50 CALL
- Ford Motor Co. (NYSE: F): Oct. 29, $15.50 CALL
- General Motors Co. (NYSE: GM): Oct. 15, $33 CALL
- Occidental Petroleum Corp. (NYSE: OXY): Oct. 15, $33 CALL
- Facebook Inc. (Nasdaq: FB): Nov. 19 $330 PUT
Check out my short video and I’ll break down today’s most unusual options order flow in two minutes flat!
And if you want to get in on these orders as they hit my Blitz Tracker in real time — and even more actionable trade ideas — be sure to join us in the Daily Profits Challenge War Room!