ExxonMobil Sees Unusual Options Activity as $1.38M Call Bet Targets $155 Strike Ahead of October Expiry

June 10, 2026

By TrendSpider Editor

ExxonMobil Sees Unusual Options Activity as $1.38M Call Bet Targets $155 Strike Ahead of October Expiry

ExxonMobil Corporation is drawing attention in the options market today, with two unusual contracts totaling $2.21 million in combined premium flagged on Wednesday, June 10, 2026. The standout trade is a bullish call sweep at the $155 strike expiring October 16, 2026, carrying $1,381,447.90 in premium on volume that represents 226% of open interest, a clear signal of aggressive new positioning. XOM shares are trading at $150.66, up 1.24% on the session, within a 52-week range of $103.85 to $176.40.

Key Drivers of the XOM Stock Move

Main Catalyst: Two unusual options contracts totaling $2,212,697.90 in premium were flagged today. The most notable is a $155 call expiring October 16, 2026, with a size of 1,279 contracts and volume at 226% of open interest, indicating fresh, conviction-driven buying above current price levels. A separate $135 put expiring December 18, 2026, saw 1,250 contracts trade at 70% of open interest, adding a hedging layer to the overall picture.
Bull Case: The $155 call carries $1,381,447.90 in premium and sits out of the money by roughly $4.34 relative to the current price of $150.66. The 226% OI ratio on that call strongly suggests this is not a hedge but a directional bet that XOM moves meaningfully higher before mid-October 2026. The stock is already up 1.24% today and remains well above the 52-week low of $103.85.
Bear Case: The $135 put expiring December 18, 2026, represents $831,250 in premium and positions a buyer for a significant drawdown from current levels. While the 70% OI reading is less extreme than the call side, the sheer dollar size of this downside protection suggests at least some large participants are not ruling out a retracement toward levels not seen since earlier in the 52-week range.

The forward setup for XOM is shaped by a split options signal: a near-term call bet through October pointing to upside toward $155, and a longer-dated put through December offering protection down to $135. With shares currently at $150.66 and sitting in the upper half of the 52-week range between $103.85 and $176.40, the call buyer needs a roughly 2.9% move higher to reach the strike before expiration. The overall options flow leans bullish given the larger premium and more aggressive OI ratio on the call side, though the simultaneous put activity is a reminder that volatility expectations remain elevated heading into the second half of 2026.

XOM Unusual Options Activity

Contract 1: Call | Strike: $155 | Expiry: October 16, 2026 | Volume: 1,279 | Open Interest: 226% | Status: Out of the Money
Contract 2: Put | Strike: $135 | Expiry: December 18, 2026 | Volume: 1,250 | Open Interest: 70% | Status: Out of the Money

Total unusual contracts flagged: 2. Total combined premium: $2,212,697.90. The call contract accounts for $1,381,447.90 of that total, representing the dominant directional bet in today's flow.

XOM Seasonality

Energy stocks including ExxonMobil have historically experienced heightened trading activity heading into the summer driving season and ahead of third-quarter earnings cycles, periods that overlap with both the October and December expiries captured in today's unusual flow. The October call expiry in particular places the trade squarely within the window when Q3 2026 results would typically be reported, a common catalyst target for large options positioning.

XOM Relative Performance

XOM is up 1.24% on the session to $150.66, outperforming on a relative basis on a day when a move of that magnitude draws options market attention at scale. The stock sits well above its 52-week low of $103.85 but remains approximately 14.6% below its 52-week high of $176.40, leaving meaningful room for the $155 call buyer to profit if momentum continues while also justifying the $135 put as tail-risk coverage against a broader reversal.