Significant Options Activity on Tuesday: AFRM, XOM, VAL
Exxon Mobil Options Volume: Exxon Mobil Corp (XOM) has seen a significant options volume of 106,408 contracts today, equating to about 10.6 million underlying shares, which is 70.1% of its average daily trading volume over the past month.
High Volume Call Option: The $120 strike call option for XOM, expiring on January 16, 2026, has particularly high activity with 11,560 contracts traded, representing approximately 1.2 million underlying shares.
Valaris Options Volume: Valaris Ltd (VAL) has recorded an options volume of 6,612 contracts today, which corresponds to around 661,200 underlying shares, making up 69.4% of its average daily trading volume over the past month.
High Volume Put Option: The $50 strike put option for VAL, expiring on January 16, 2026, has seen notable trading with 1,586 contracts exchanged, representing about 158,600 underlying shares.
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Exxon Mobil's Q4 Earnings Outlook Amid Market Challenges
- Earnings Forecast: Analysts project Exxon Mobil's Q4 EPS at $1.68 with revenues around $82.28 billion, as lower upstream prices may weigh on results, but robust refining and record production in Guyana and the Permian Basin are expected to provide critical earnings support.
- Refining Resilience: Despite market headwinds, Exxon reported $7.5 billion in earnings in Q3, driven by record refinery throughput and over $14 billion in structural cost savings since 2019, showcasing the strength of its integrated business model.
- Venezuela Opportunity: With the Trump administration urging U.S. oil majors to rebuild Venezuela's energy sector, Exxon leadership is open to evaluating re-entry, although experts caution about historical risks of expropriation in this politically volatile environment.
- Future Growth Strategy: The company reaffirmed its “League of Our Own” strategy, with 10 major project startups expected to contribute over $3 billion in additional earnings by 2026, while maintaining a $20 billion annual share buyback program to return significant value to shareholders.
Rubio Calms Congress Regarding Venezuela, But Oil Executives Remain Skeptical.
Author Background: Jerry Haar is a business professor at Florida International University and holds fellowships at Georgetown University and New York University, focusing on global business education and development research.
Professional Affiliations: He is a member of the International Executive Resources Group, indicating his involvement in global business networks and leadership.
