(08-11-2020, 11:37 AM)vbin Wrote: I sold a few XOM calls on the uptrend today, already making 25% on those calls
I still play oil but very much in moderation. No shortage of oil patch dreamers on S.A. but I think the long-term future is very iffy. We need oil but that doesn;t assure solvency, much less growth for oil companies. No end to the too much supply problem any year soon, for more than a few months anyway. It's just a trade and no longer a DGI stock. The volatility makes for decent premiums though. I made some money on XOM this month but I don't trust it much past a few weeks when I can avoid it. Selling oil calls is good when it runs a bit. You can make money when our long shares pull back and I think the chance of a huge run up is about zip until the economy truly recovers. That is a few years away. The market is rejoicing when they match 2017-18 revenue and EPS.