Options Trade of the Week
Monday, August 18, 2014
Oil prices are off over 10% from the highs of the summer, due to much more oil than was expected, which flooded the market, because of a growing supply out of OPEC and the United States, which is great news when it comes to this options trade.
One company that stands to benefit is Occidental Petroleum Corporation (NYSE: OXY), an oil and gas exploration and production giant, which has operations all over the U.S. and Middle East.
The company reported second-quarter earnings on July 3, posting results that demonstrate its strength. Earnings per share and production grew last quarter, as well as over the first half of the year, driven by its oil fields in California and in the Permian Basin.
Read the rest of the report and find out the recommended options trade …..