Occidental (OXY) Offering Possible 19.9% Return Over the Next 9 Calendar Days

Occidental's most recent trend suggests a bearish bias. One trading opportunity on Occidental is a Bear Call Spread using a strike $59.50 short call and a strike $64.50 long call offers a potential 19.9% return on risk over the next 9 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $59.50 by expiration. The full premium credit of $0.83 would be kept by the premium seller. The risk of $4.17 would be incurred if the stock rose above the $64.50 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 28.16 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

Anadarko Board Backs ‘Superior' Occidental Deal, Says Chevron Can Make New Bid
Tue, 07 May 2019 08:12:00 +0000
Anadarko said Occidental's move to secure financing for the cash portion of its revised bid, which includes a $59 per share consideration and 0.2934 in Occidental common stock, makes it a “superior proposal” to Chevron's 75% stock and 25% cash deal that values the Houston-based oil group at around $50 billion, including debt, the company said. agreed a $10 billion investment in Occidental last week that gives the Warren Buffett-backed investment group preferred shares paying an 8% dividend.

Edited Transcript of OXY earnings conference call or presentation 6-May-19 12:00pm GMT
Tue, 07 May 2019 06:54:25 +0000
Q1 2019 Occidental Petroleum Corp Earnings and Delivers Revised Proposal to Acquire Anadarko Petroleum Corp Call

PRESS DIGEST-New York Times business news – May 7
Tue, 07 May 2019 04:41:44 +0000
The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. – U.S. President Donald Trump's top economic advisers …

Andrea Orcel has Lunch with the FT
Tue, 07 May 2019 04:00:32 +0000
FT premium subscribers can click here to receive Due Diligence every day by email. Andrea Orcel describes himself as passionate and intense. The former head of investment banking at UBS knew what he wanted to be from an early age.

Anadarko Accepts Occidental Bid; Chevron Has 4 Days to Respond
Tue, 07 May 2019 04:00:00 +0000
The announcement by Anadarko, which had rebuffed several prior bids from Occidental, comes almost a month after it agreed to be purchased by Chevron for $33 billion. Chevron has so far refused to increase its offer, saying its proposal is a better long-term option for Anadarko shareholders.

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