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Strategies & Market Trends : Option Strategies -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (2087)	3/4/2020 1:05:15 PM
From: Thehammer	Respond to of 2591

Hi Bob, Last week, I finally sold out completely of XOM. I had it over a decade and while the dividend was nice, I lost faith in management. Still long CVX and other oil companies and short some May 115 CVX puts that I rolled down from 120. Incidentally, part of my XOM position came from an assignment in the Great Recession. I usually stay within 3 months (1 earnings cycle) for my initial put sells. Longer term buys you more downside protection but also has greater risk. However, I sometimes am stuck longer term because of a roll. I think you are right about the comeback for energy and for more reasons that just CAPEX cuts. I don't pay as much attention to RSI but it has merit as to when to initiate positions. Incidentally, I don't sell CALLS often as PUTS but am short the CVX JAN 135 calls at over $4.00 - now they are selling for less than 1/10th that. Things can change very quickly.