ExxonMobil Long Entry: Update

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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