4 Trade Ideas for Schlumberger: Bonus Idea

• Posted by Greg Harmon
• on October 26th, 2026

Here is your Bonus Idea with links to the full Top Ten:

Schlumberger, $SLB, comes into the week rounding up out of a pullback through the 200 day SMA. Friday’s candle burst up through all the SMA’s. It has an RSI rising into the bullish zone with the MACD negative but moving towards across the positive. There is resistance at 53.25 and 54 then 57 and 58 before 60. Support is found at 51 and 50.50. Short interest is moderate at 4.1%. The stock pays a dividend with an annual yield of 2.22% and has traded ex dividend since September 2nd.

The company is expected to report earnings next on January 21st. The November options chain shows biggest open interest at the 50 put as well as the 50 call strikes. In the December chain open interest is biggest at the 45 put and at the 55 call. Finally, in the January chain, it has biggest open interest at both the 47.50 and 35 put strikes as well as the 65 strike on the call side.

Schlumberger, Ticker: $SLB

Trade Idea 1: Buy the stock on a move over 53.50 with a stop at 51.

Trade Idea 2: Buy the stock on a move over 53.50 and add a November 52.50/50 Put Spread ($1.15) while selling the December 60 Call (90 cents).

Trade Idea 3: Buy the November/December 57.50 Call Calendar (85 cents) while selling the November 49 Put (60 cents).

Trade Idea 4: Buy the January 50/55/65 Call Spread Risk Reversal (25 cents).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which with one week left in scary October and the FOMC meeting on Wednesday, saw equity markets had been spooked by the combination of strong earnings growth and capex growth.

Elsewhere, look for Gold to continue the short term move lower with Crude Oil resuming the short term move higher. The US Dollar Index looks to try to hold up over the top of the zone on the verge of an uptrend while US Treasuries close in on a retest of the breakdown levels. The Shanghai Composite shifts to a downtrend after confirming a long rounding top while Emerging Markets continue to show risk to their uptrend.

The Volatility Index looks elevated in the normal zone, near a more worrisome move higher putting pressure on equities. The chart of the SPY is on the cusp breaking support in the short term while the IWM and QQQ continue their short terms move lower. The SPY and QQQ continue to look stronger on the longer timeframe holding consolidation ranges while the IWM is in a short term downtrend. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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