ExxonMobil Long Entry: Update
- Posted by Greg Harmon
- on January 17th, 2013
For those of you following my exploits in ExxonMobil, $XOM, from the post two weeks ago A Long Entry into ExxonMobil , I took another step in the trade today. The Breakout from the 90 level gives a good support line to trade against. I have bought back the January 87.5 Puts and sold to open
February 90 Puts for a net $1.35 credit. This brings the total credit in pocket to $5.42, and would put me in the stock with a basis of84.58 if it closes below 90 on February Expiry
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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