Big Oil - Big Turnaround Tuesday

Tim Biggam

Big Oil - Big Turnaround Tuesday

By Tim Biggam — Author

Even in the face of another crude carnage today, shares of the Big Oil companies (CVX, COP, XOM) put in an encouraging technical performance, with shares trading sharply lower on the opening, but managing to close at the highs of the day.

With the dividend yields above 5%, both COP and CVX are looking comparatively attractive on a yield basis to the US 10 year, which yields just 2.137%

CVX has been down 15 straight weeks, with the stock reaching the lowest 9 period RSI reading in over 20 years. The OnV portfolio took a long call position earlier today, scalping out of 2/3 later in the day for nice gains, while still keeping 1/3 to position for further profits.

Posted to Options & Volatility on Aug 11, 2015 — 4:08 PM

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Tim Biggam