Occidental (OXY) Offering Possible 19.33% Return Over the Next 27 Calendar Days

Occidental's most recent trend suggests a bearish bias. One trading opportunity on Occidental is a Bear Call Spread using a strike $53.50 short call and a strike $58.50 long call offers a potential 19.33% return on risk over the next 27 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $53.50 by expiration. The full premium credit of $0.81 would be kept by the premium seller. The risk of $4.19 would be incurred if the stock rose above the $58.50 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 29.14 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

Occidental Petroleum CFO Cedric Burgher to be Keynote Speaker on Day One of The Oil & Gas Conference® 2019
Wed, 22 May 2019 16:30:00 +0000
DENVER, May 22, 2019 /PRNewswire/ — EnerCom is pleased to announce that Senior Vice President and Chief Financial Officer of Occidental Petroleum (OXY) Cedric Burgher will deliver the luncheon keynote address on Monday, August 12, 2019, at EnerCom's The Oil & Gas Conference® in downtown Denver's Westin hotel. Mr. Burgher joined Occidental in May 2017 bringing more than 25 years of experience in the energy sector. Prior to joining Occidental, he was senior vice president of investor relations at EOG Resources (EOG), and he led financial organizations at QR Energy, Quantum Energy Partners, KBR, Halliburton (HAL) and Baker Hughes (BHGE). Mr. Burgher's experience includes a decade of CFO experience, leading two IPOs and a broad range of M&A and capital markets transactions.

Add $8 Billion to Oxy's Cost for Anadarko
Wed, 22 May 2019 14:39:23 +0000
At close to 6%, the recent victor in the Anadarko wars sports its highest dividend yield in more than 16 years – more than in the energy-sector panic of early 2016 or the financial crisis. To be fair, Oxy’s yield has been higher than average for years. Besting Chevron Corp. was a big score for Oxy’s M&A crew (and corporate jet department) but has, up to this point, been a disaster for valuation.

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.

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