Trade Idea - $OXY - Inverse Head & Shoulders
$OXY Inverse Head & Shoulders (see chart)
Large volume spike on 1/24/22
Options Flow > 60% Bullish - Strikes of note are 1/21/22 $39 C & $36 C; 3/18/22 $40 C
Energy Sector saw a 17% increase in Call volumes with a 19% decrease in Put volumes.
Conservative strategy is to wait and buy 3/18 strikes on retest of neckline.
Aggressive strategy is 1/21 strikes if ticker shows strength at market open on 1/18.
Large volume spike on 1/24/22
Options Flow > 60% Bullish - Strikes of note are 1/21/22 $39 C & $36 C; 3/18/22 $40 C
Energy Sector saw a 17% increase in Call volumes with a 19% decrease in Put volumes.
Conservative strategy is to wait and buy 3/18 strikes on retest of neckline.
Aggressive strategy is 1/21 strikes if ticker shows strength at market open on 1/18.