Trying to find divergences in oil sector .... Trying to find divergences related in the oil sector ....
Key stats
About SPDR S&P Oil & Gas Explor & Product
Expense ratio
0.35%
Home page
Inception date
Jun 19, 2006
ISIN
US78468R5569
XOP offers an equal-weighted approach to oil and gas exploration and production. Based on the GICS classification, the fund provides exposure to the oil and gas exploration and production segment of the S&P Total Market Index, the parent index, which includes Integrated Oil & Gas, Oil & Gas Exploration & Production, and Oil & Gas Refining & Marketing. Equal weighting provides diversified exposure to an industry normally dominated by a few big names, but also produces a bias to small- and midcaps. The index is reviewed and rebalanced quarterly.
Classification
What's in the fund
Exposure type
Energy Minerals
Stock breakdown by region
XOP - Breaking Out 🚀SPDR ETFs are a great way to have exposure to a market without committing to one particular stock.
And here this chart shows the overall market is breaking to the upside in the last few hours.
Notice first the bullish divergence is followed by a shallow descending channel which also appears to be
XOP Bull Put spread testing -1 sigSymbol XOP
Open Date 11/8/2023
Put or Call Put
Expiry Date 12/22/2023
Short Strike 131
Long Strike 130
Price to Open 0.25
Min Width Multiple 2
Risk Ratio 3.00
Return on Risk 33.3%
Opening DTE 44
1 Day ROI% 0.76%
Max Annual ROI % 276.5%
XOP testing the 4h/Daily Bull range.
Held Oct 5 and buyer resum
Breakout and Backtest = $$$$Breakout and backtest in process...
Oil prices are coming back up soon, watch out.
RSI AND VOLUME FLOW POINT TO DIRECTION SHIFT IN XOPXOP
Using $XOP as representative of the Oil and Gas Exploration Industry.
Pearson's R^2 = 0.95 indicating strong tendency for signal to centralize around its multi-year linear mean (LM, 150.22).
Signal currently resides just above the lower third standard deviation (-3) off the linear mean(
XOP for Oil breakout after use of SPR suspendedThe context for this entry is based on the suspended use of our Strategic Petroleum Reserve by the US Government. In April of 2022, our leadership chose to tap the SPR in an attempt to hold off inflation at the pump. While this worked for much of 2022, and early 2023, the SPR can no longer be used o
Opening (Margin): XOP September 15th 113/148 Short Strangle... for a 2.66 credit.
Comments: Short put for the IRA (See Post Below); short strangle for the margin.
Selling the 16 delta strikes on both sides. 2.66 credit on buying power effect of 12.98; 20.5% ROC at max; 10.3% at 50% max.
xop vs btc🙏Thanks for playing along the "mystery chart" game, some good guesses in there.
💡It was a ratio chart, #XOP versus #Bitcoin!
⚠️Game changing momentum occurring right now in markets, if you are paying attention.
#crudeoil #gold #silver #inflation #fintwit
XOP 2H 2023 3d ChartXOP getting interesting on the back of a possible 2nd half oil push and companies such as Chrevron beating earnings expectations.
See:
USOIL:
Gasoline:
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