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Occidental Petroleum (OXY) Showing Bearish Technicals With Resistance At $69.46

Nov 10, 2017 (Marketintelligencecenter.com via COMTEX) --

The patented option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center are highlighting two trades on Occidental Petroleum (<a href="http://www.marketintelligencecenter.com/symbol/OXY">OXY</a>) today after it closed at $68.69 on Nov 9, 2017. For more conservative investors, look at a covered call using the Jan 19, 2018 $67.50 call for a net debit of about $66.15. This trade will return 2.04% (10.64% annualized, for comparison purposes only) as long as the stock closes above $67.50 at expiration. Occidental PetroleumAcan fall 3.71% before causing a problem. For investors with a higher appetite for risk, consider a diagonal spread with a Jan 18, 2019 $55 call taking the place of the long stock position and the same short position in the Jan 19, 2018 $67.50 call. This trade only costs about $11.84 to get into and the rate of return increases to 5.48% (10.64% annualized, for comparison purposes only) but the downside protection falls to 2.69%.

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