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Occidental Petroleum (OXY) Showing Resistance Near $73.02

Feb 07, 2018 ( via COMTEX) --

A covered call identified by's patented algorithms on Occidental Petroleum (<a href="">OXY</a>) could yield about 2.54% (25.14% annualized, for comparison purposes only) in 37 days. Pair a long position in the stock with the Mar 16, 2018 $70 call for a net debit of about $68.26. This position also has 4.15% downside protection. For a less expensive, but riskier, option consider a diagonal spread using the same sold call and a long position in the Jan 18, 2019 $55 call for a net debit of about $14.43. While this trade has a higher yield at 3.87%, the downside protection falls to 4.15%. Occidental Petroleum closed at $71.22 Feb 6, 2018. Technical indicators for OXY are bearish and support and resistance have been about $68.50 and $73.02, respectively.A

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