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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (166532)	12/30/2020 2:57:23 AM
From: carranza2	Read Replies (2) \| Respond to of 218621

I bought XOM 1.21.22 calls strike 37.50 at 4.51 last September on simple notion that underlying shares were then ridiculously undervalued at less than or close to book value. Plus, pandemic definitely over by 1.21.22 presumably resulting in more activity, ie., higher price for black gold. Now at 7.50. Considered selling recently in the 9s for 100% return in 3 months but did not on notion that underlying rationale has not changed. Presently sitting on 60% gain. When/if XOM gets in the 50s, the calls should be in the teens. Hopefully. Lol! Risk is dividend cut, but suspect that it has largely already been taken into consideration by market. Bottom line: in my estimation, the calls are still good buys. Not as good as when they were at 4.50, but still a good LT hold to be sold in teens.