topher06 said:
Good call on this one. Scalped a few SPY calls, not enough to make up for those XOM calls though
I don't know if you are still holding the XOM Calls. If you are....and it's your money....XOM rides up to div payout and a few days after payout date. The market action yesterday and today was similar to the ride up to Ex-Div Date some weeks back. It shook some Call holders out. Call holders who held got rewarded. For many quarters now, XOM rides up to earnings, rides up to Ex-Div, rides up to payout and rides up a few days after payout. That cycle has been in place for a long time. As I say, it's the most generous stock out there. OF COURSE, IT'S ALL GREAT UNTIL THE CYCLE STOPS. Will the ride-up cycles stop this div payout? I don't know, but the trend is your friend until it ain't. Good luck.