On CNBC’s “Options Action,” Michael Khouw of Optimize Advisors said that trading in ExxonMobil Corp. (NYSE:XOM) and other energy stocks suggests the overall market sentiment is bearish.
Check out other stocks making moves in the premarket.
There was a seller of 17,700 of the February 125 calls at an average price of $2.75 per contract, Khouw mentioned. The trader collected $4.8 million in premium and expects the rally to come to an end, he stated.
There was a similar activity in Schlumberger NV (NYSE:SLB) and Halliburton Company (NYSE:HAL), Khouw added.
XOM Price Action: Shares of Exxon Mobil had risen by 0.13% to close at $113.06 on Thursday.
