The strong push down that OXY made between 18th to 25th must have made many nervous and willing to adjust their trades to the downside. This signal makes me think that intermediate signal for OXY is bearish. I have been looking to enter OXY to the downside. The IV doesn't seem to go down, so today I decided on a bearish double vertical for April expiry.
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| OXY Daily |
Occidental Petroleum Corporation (NYSE:OXY) bearish spread:
Buy $85 April monthly call
Sell $82.5 April monthly call
Buy $80 April monthly put
Sell $77.5 April monthly put
(Credit $0.05)
*Please do your own research before buying any stock listed here. Disclaimer.
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