Schaeffer's Top Stock Picks for '25

Surging Oil Prices Push Occidental Petroleum Stock Higher

OXY already sports a 96% year-to-date lead

Digital Content Manager
Mar 7, 2022 at 10:27 AM
facebook X logo linkedin


Occidental Petroleum Corporation (NYSE:OXY) is up 3.5% at $58.42 at last check, after the Russia-Ukraine war earlier drove oil prices to 13-year highs. Today's massive  surge came as the U.S. and its allies considered banning Russian crude imports, which may lead to slower global economic growth, in addition to higher unemployment rates and inflation. Plus, two Carl Icahn representatives will step down from the company's board, after the activist investor exited his position. 

The equity has been climbing up the charts since late February, and is currently trading at its highest level since May 2019. Now boasting a 96% year-to-date lead, the 40-day moving average has acted as a solid area of support for the security since early 2022.

At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), OXY's 50-day put/call volume ratio of 0.52 ranks higher than 98% of readings from the past year. This means that while calls remain popular on an absolute basis, long puts have been getting picked up at a quicker-than-usual clip in the last 10 weeks.

Echoing this, the security's Schaeffer's put/call open interest ratio (SOIR) stands higher than all but 2% of annual readings. This indicates short-term options traders have rarely been more put-biased.

Today's options pits paint a different picture, however. So far, 29,000 calls and 16,000 puts have crossed the tape, which is five times the intraday average. Most popular is the March 47.50 put, followed by the 3/11 60-strike call, with positions being opened at both.

These traders are in luck. The equity's Schaeffer's Volatility Scorecard (SVS) sits at a 84 out of a possible 100, suggesting Occidental Petroleum stock has exceeded volatility expectations during the past calendar year -- a boon for premium buyers.

 
 

Which of These SUB-$5 Stocks Could 26x From Here? (AD)

He called a rare 11x on Tesla…

Then he called a 26x on Workhorse…

Then an even rarer 35x on Nio Inc…

Now Tim Bohen says these 5 tiny “America First” stocks are next up in 2025.

They’re trading for less than $5 right now.

But thanks to Elon & Trump’s new alliance…

They could be off to the races in Trump’s first 100 days.

And right now for a limited time…

You can get the names & tickers for just $1 here. (AD)

10 Stock Picks FREE
 
 

Featured Articles from Trusted Partners:

🚀 One Stock Pick Could Change Everything in 2025
What if one stock pick could define your success next year? Get 10 expert-vetted stocks set for 2025—plus 5 bonus picks to watch now. Get the Report →

🆕 New Options Need New Trading Strategies
Zero-DTE options are the newest (and hottest) options to trade.  Professional traders have rushed into the market and are making a mint.  Don’t get left behind - learn all about these options, how to trade them, market setups to profit from, plus much more. Download now →

👀 Revealed: 3 Defensive Stocks for Your Portfolio
Worried about the market? This free report reveals 3 under-the-radar defensive stocks for uncertain times in any kind of economy.

 

 
 

FREE Report Download

 

Follow us on X, Follow us on Twitter