ExxonMobil Sees $2.8M in Bullish Options Flow as Stock Climbs Above $150

By TrendSpider Editor

Two unusual call contracts totaling $2,802,506 in combined premium hit the tape for ExxonMobil Corporation on Monday, signaling notable bullish positioning as shares trade at $151.88. The activity comes with XOM up 1.23% on the session, sitting in the upper half of its 52-week range of $101.73 to $1

ExxonMobil Sees $2.8M in Bullish Options Flow as Stock Climbs Above $150

Two unusual call contracts totaling $2,802,506 in combined premium hit the tape for ExxonMobil Corporation on Monday, signaling notable bullish positioning as shares trade at $151.88. The activity comes with XOM up 1.23% on the session, sitting in the upper half of its 52-week range of $101.73 to $176.395. With one contract deep in the money and another carrying an open interest spike of 1,000%, the options flow suggests traders are making directional bets on continued upside through at least mid-2027.

Key Drivers of the XOM Stock Move

• Main Catalyst: Two unusual call contracts were flagged today totaling $2,802,506 in premium. The larger of the two is a $150 strike call expiring January 15, 2027, with 1,750 contracts and an open interest ratio of 26%, currently in the money. The second is a $175 strike call expiring July 24, 2026, with 329 contracts and an open interest ratio of 1,000%, sitting out of the money.
• Bull Case: The dominant contract, a January 2027 $150 call carrying $2,765,000 in premium and 1,750 in size, is already in the money at the current price of $151.88. The sheer size and premium behind this contract suggests a high-conviction bet on XOM holding or extending its current level through the first half of next year.
• Bear Case: The $175 strike July 2026 call, while generating significant open interest attention at 1,000% of normal OI, is out of the money and carries only $37,506 in premium across 329 contracts. XOM would need to rally roughly 15% from current levels to reach $175 before expiration on July 24, 2026, just six weeks away. The stock is also still nearly $25 below its 52-week high of $176.395, underscoring that resistance overhead is real.

The forward setup for XOM looks constructive from a technical standpoint, with today's 1.23% gain pushing shares further into the upper half of their annual range. The in-the-money January 2027 call positions a large trader for sustained strength well beyond the near-term noise. The out-of-the-money July 2026 $175 call, despite its smaller premium, is notable for its open interest explosion, hinting that a fresh position was opened aggressively relative to existing activity at that strike. For longer-term investors, the dominant call flow reinforces that institutional participants are not abandoning energy exposure, even with crude markets subject to ongoing macro crosscurrents heading into the second half of 2026.

XOM Unusual Options Activity

Two unusual call contracts were flagged in today's session. The first is a call with a $150 strike expiring January 15, 2027, with a volume of 1,750 contracts and an open interest ratio of 26%, currently in the money, carrying $2,765,000 in premium. The second is a call with a $175 strike expiring July 24, 2026, with a volume of 329 contracts and an open interest ratio of 1,000%, currently out of the money, carrying $37,506 in premium. Combined, these two contracts represent $2,802,506 in total unusual options premium, with both trades skewed to the call side, reflecting a net bullish bias in today's flow.

XOM Seasonality

Energy stocks historically experience increased volatility heading into the summer driving season, which tends to support crude oil demand and, by extension, integrated majors like ExxonMobil. The July 2026 expiration on the $175 strike call aligns directly with this seasonal window, suggesting the trader behind that contract may be targeting a near-term catalyst or a seasonal price surge before summer demand peaks.

XOM Relative Performance

XOM is trading at $151.88 today, up 1.23% on the session, and sits well above its 52-week low of $101.73, representing a gain of roughly 49% from that trough. However, the stock remains approximately $24.50 below its 52-week high of $176.395, indicating there is meaningful room to recover peak levels. The bullish options positioning today suggests at least some market participants believe that gap can close over the coming months.