I'm not going to play this particular one, as I've already got more than my fair share of oil and gas plays on at the moment (OIH, XOP, HES), but IVR/IV hasn't been this high in XOM in quite some time (79/26).
Here's what I would do were I not so heavily into the sector right now:
Dec 31st 72/84.5 short strangle for 2.01 credit
POP%: 74%
Max Profit: $201 per contract
BPE: ~ $977
BE's: 69.99/86.51
Here's what I would do were I not so heavily into the sector right now:
Dec 31st 72/84.5 short strangle for 2.01 credit
POP%: 74%
Max Profit: $201 per contract
BPE: ~ $977
BE's: 69.99/86.51