On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that trading in ExxonMobil (NYSE:XOM) Corp. (NYSE: XOM) implied a move of about 3.4% on Thursday. This was higher than the average of 2.7% move in the last eight reported quarters, he said.
The stock traded at 1.3 times its average daily call volume on Thursday, Khouw added.
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There were buyers of 1,000 of the December 120 calls at an average price of $1.60 per contract, Khouw said. The traders expect ExxonMobil’s stock to rise by at least 12.5% by December expiration, he added.
XOM Price Action: Shares of ExxonMobil had risen by 0.38% to close at $107.55 on Thursday.
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