Occidental (OXY) Offering Possible 35.5% Return Over the Next 22 Calendar Days

Occidental's most recent trend suggests a bearish bias. One trading opportunity on Occidental is a Bear Call Spread using a strike $53.00 short call and a strike $58.00 long call offers a potential 35.5% return on risk over the next 22 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $53.00 by expiration. The full premium credit of $1.31 would be kept by the premium seller. The risk of $3.69 would be incurred if the stock rose above the $58.00 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 below 20 which suggests that the stock is in oversold territory.

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 Stocks To Buy: Here Are U.S. Shale, Market Cap Leaders
Tue, 28 May 2019 19:56:34 +0000
When weighing which oil stocks to buy, consider which ones are the leaders in U.S. shale or are already big players making moves in top plays like the Permian.

Algeria to seek “good compromise” over Total's Anadarko deal – minister
Tue, 28 May 2019 15:23:02 +0000
Algeria's energy minister said on Monday he would seek a “good compromise” when asked about his earlier comments that Algiers would block a plan by France's Total to buy Anadarko's Algerian assets. Occidental Petroleum agreed to sell Anadarko Petroleum Corporation's assets in Algeria, Ghana, Mozambique and South Africa to Total for $8.8 billion if the U.S. oil company succeeds in completing its plan to take over of Anadarko. Algerian Energy Minister Mohamed Arkab said on Sunday that Algiers would block Total's acquisition.

Occidental to sell parts of Anadarko after debt-fueled acquisition
Tue, 28 May 2019 12:18:15 +0000
Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum. It also quadrupled its debt – to $40 billion …

WPX Energy (WPX) Sells Midstream Assets, to Lower Debts
Mon, 27 May 2019 11:32:11 +0000
WPX Energy (WPX) closes the sale of its interest in Oryx II pipeline for $350 million and decides to use the proceeds to lower its outstanding debts.

Small shale companies under pressure, says Fed official
Mon, 27 May 2019 04:00:27 +0000
Independent shale drillers in the US are facing pressure to either expand or be acquired, Robert Kaplan, president of the Federal Reserve Bank of Dallas, has said. Mr Kaplan’s comments come less than two weeks after Occidental Petroleum agreed to acquire rival Anadarko Petroleum, one of the largest US independent oil and gas groups, for $56bn. “People have said to me in this industry, you’re either a buyer or a seller today,” Mr Kaplan said.

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