ConocoPhillips (COP) Offering Possible 7.76% Return Over the Next 9 Calendar Days

ConocoPhillips's most recent trend suggests a bullish bias. One trading opportunity on ConocoPhillips is a Bull Put Spread using a strike $49.50 short put and a strike $44.50 long put offers a potential 7.76% return on risk over the next 9 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $49.50 by expiration. The full premium credit of $0.36 would be kept by the premium seller. The risk of $4.64 would be incurred if the stock dropped below the $44.50 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for ConocoPhillips is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for ConocoPhillips is bullish.

The RSI indicator is at 79.01 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for ConocoPhillips

Chevron, Exxon and other oil companies’ quarterly results could be ‘messy,’ analysts say
Wed, 12 Apr 2017 07:12:01 +0000
Major oil companies are likely to report first-quarter earnings below expectations later this month, analysts at Barclays say.

Oil & Gas Stock Roundup: Sunoco's $3.3B Deal, SeaDrill's Bankruptcy Warning and More
Tue, 11 Apr 2017 19:52:07 +0000
It was a week where oil prices extended their hold over the $50-a-barrel level, while natural gas futures climbed to a 2-month high.

Cenovus CEO seeks backing as bold bet and market jitters test his legacy
Tue, 11 Apr 2017 19:48:14 +0000
Cenovus Energy Inc will do more hedging after its acquisition of ConocoPhillips assets, the Canadian company's Chief Executive Brian Ferguson said on Tuesday as he mounted a charm offensive on investors who balked at the deal. Ferguson is known as a low-key and conservative chief executive in the western Canadian oil patch, and his C$17.7-billion ($13.3-billion) bid last month for the assets of ConocoPhillips, the latest international player to exit the country, had confounded investors and analysts.

I Still Can't Believe ConocoPhillips Spent $432 Million on Drilling Dry Holes Last Year
Tue, 11 Apr 2017 18:34:00 +0000
The U.S. oil giant’s exploration program came up dry more than once in 2016.

Cenovus Sees Demand for Assets as It Seeks to Fund Conoco Deal
Tue, 11 Apr 2017 17:36:14 +0000
Cenovus Energy Inc. has seen strong interest in the assets it’s selling to help fund a C$17.7 billion ($13.3 billion) acquisition of ConocoPhillips’ oil-sands business.

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