Return to News Categories

Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Occidental Petroleum (OXY) Showing Bearish Technicals With Support At $67.79

Feb 06, 2018 ( via COMTEX) --

Occidental Petroleum (<a href="">OXY</a>) is a good candidate for a covered call at the $70 level. The Mar 16, 2018 call at that price should fetch a credit of about $2.89, which means the entire position has a net debit of about $68.01. This trade has 2.18% downside protection. Another option would be to buy the OXY Jan 18, 2019 $47.50 call instead of holding a long position in the stock. This lowers the net debit to $21.85, but the position only has 2.18% downside protection. Technical indicators for the stock are bearish and Occidental Petroleum has a 52-week low of $57.20 and 52-week high of $78.09.

(C) Copyright 2018, All rights reserved. ********************************************************************** As of Friday, 02-02-2018 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system,

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 5834.60
Nat Gas 8.301
Corn 367 4/8
Cotton #2 77.16
Gold 1349.4
Copper 3.2385
Euro 1.24300
USD Index 89.013
SP500 E-mini 2736.25
DJIA E-mini 25236