Occidental (OXY) Offering Possible 18.76% Return Over the Next 29 Calendar Days

Occidental's most recent trend suggests a bearish bias. One trading opportunity on Occidental is a Bear Call Spread using a strike $54.50 short call and a strike $59.50 long call offers a potential 18.76% return on risk over the next 29 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $54.50 by expiration. The full premium credit of $0.79 would be kept by the premium seller. The risk of $4.21 would be incurred if the stock rose above the $59.50 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Occidental is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Occidental is bearish.

The RSI indicator is at 33.39 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Occidental

Oil & Gas Stock Roundup: Equinor's GoM Boost, Schlumberger's Asset Sale & More
Tue, 21 May 2019 21:37:09 +0000
Norway's Equinor (EQNR) acquired an additional 22.45% stake in GoM's Caesar Tonga oilfield, while energy services behemoth Schlumberger (SLB) sold several drilling assets for $400 million.

Former Risk Arbitrageur to CEOs: Keep Your Friends Close and Your Arbs Closer
Tue, 21 May 2019 20:11:18 +0000
Edelman Senior Vice President Ira Gorsky From Anadarko’s sale to Occidental to T-Mobile’s purchase of Sprint to Bristol Myers Squibb’s acquisition of Celgene, big deals on Wall Street often put shares in the hands of an unfamiliar investor: the risk arbitrageur, or Arb. In the article below for CorpGov, Edelman Senior Vice President Ira Gorsky […]

Occidental Petroleum Stock Gets a Thumbs Down, but at Least It’s Yielding 5.8%
Tue, 21 May 2019 18:25:00 +0000
Occidental Petroleum beat out Chevron to buy Anadarko Petroleum. But Occidental’s “victory” has not been hailed as such by the market.

52-Week Company Lows
Tue, 21 May 2019 15:48:19 +0000
According to GuruFocus' list of 52-week lows, these Guru stocks have reached their 52-week lows. The price of 3M Co. (MMM) shares has declined to close to the 52-week low of $166.25, which is 24.5% off the 52-week high of $219.75. The company has a market cap of $95.83 billion.

4 data points in Texas energy this week
Mon, 20 May 2019 10:00:00 +0000
The oil and gas rig count in Texas fell to its lowest number last week since February 2018, according to data published May 17 by Baker Hughes, a GE Company (NYSE: BHGE). The total U.S. count was down by one to 987, according to the data.

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