ExxonMobil Sees Unusual Options Activity as $1.5M in Premiums Hit the Tape

By TrendSpider Editor

ExxonMobil Holdings Corporation attracted notable attention in the options market on Thursday, with three unusual contracts generating a combined $1,538,750 in total premium. The largest single contract was a $852,000 call sweep targeting a $160 strike expiring January 15, 2027, suggesting at least

ExxonMobil Sees Unusual Options Activity as $1.5M in Premiums Hit the Tape

ExxonMobil Holdings Corporation attracted notable attention in the options market on Thursday, with three unusual contracts generating a combined $1,538,750 in total premium. The largest single contract was a $852,000 call sweep targeting a $160 strike expiring January 15, 2027, suggesting at least some institutional players are positioning for upside from the current price of $153.47. With shares trading within a 52-week range of $105.525 to $176.395, XOM sits in the upper half of its range but remains well below its annual high, leaving room for the bullish bets to pay off.

Key Drivers of the XOM Stock Move

• Main Catalyst: Three unusual options contracts landed in XOM on August 6, 2026, spanning two calls and one put, with a combined premium of $1,538,750. The most aggressive print was a 1,000-contract call at the $160 strike expiring January 15, 2027, carrying $852,000 in premium. A second call targeting the $240 strike expiring December 17, 2027, printed 450 contracts at $130,500. A put at the $135 strike expiring January 15, 2027, drew 1,250 contracts and $556,250 in premium.
• Bull Case: The $160 call expiring January 2027 represents the heaviest premium outlay at $852,000, and the $240 call expiring December 2027 registered an open interest percentage change of 938%, signaling a dramatic surge in new positioning at that far-out-of-the-money strike. With XOM up 1.23% on the session to $153.47, the near-term price action reinforces the directional bias of the dominant call flow.
• Bear Case: The 1,250-contract put at the $135 strike expiring January 15, 2027, generated $556,250 in premium and represents a meaningful hedge or outright bearish bet. A move to $135 would mark a decline of roughly 12% from current levels and would push XOM back toward the lower half of its 52-week range. Both the $160 call and the $135 put expire on the same date, suggesting some players may be constructing spread strategies rather than expressing pure directional conviction.

The forward setup for XOM is defined by competing forces. The dominant call flow at $160 implies bulls are targeting a roughly 4.3% advance from current levels before the January 2027 expiration, a reasonable ask given the stock's demonstrated range over the past year. At the same time, the simultaneous put activity at $135 reflects caution that energy prices could deteriorate and weigh on the stock. The far-dated $240 call, while carrying the smallest absolute premium of the three contracts, is the most speculative print given how deeply out of the money it sits relative to the current $153.47 price. Its 938% open interest surge suggests it was nearly entirely new positioning, not a roll of existing exposure. Traders watching XOM will want to monitor crude oil price direction and any guidance updates from management as key catalysts that could resolve the tension between the bullish and defensive positioning visible in today's tape.

XOM Unusual Options Activity

• Contract 1: Call | Strike: $160 | Expiry: January 15, 2027 | Volume: 1,000 | Open Interest Change: 17% | Premium: $852,000
• Contract 2: Put | Strike: $135 | Expiry: January 15, 2027 | Volume: 1,250 | Open Interest Change: 26% | Premium: $556,250
• Contract 3: Call | Strike: $240 | Expiry: December 17, 2027 | Volume: 450 | Open Interest Change: 938% | Premium: $130,500

All three contracts are out of the money relative to the current price of $153.47. Total unusual premium across the three contracts reached $1,538,750, with calls accounting for $982,500 and the single put representing $556,250.

XOM Seasonality

August has historically been a mixed month for energy equities, as the tail end of summer driving demand begins to fade and traders start to price in fall refinery maintenance schedules. The January 2027 expiration date on two of the three contracts positions these trades to capture any winter demand catalyst that could lift crude prices and, by extension, ExxonMobil shares.

XOM Relative Performance

XOM added 1.23% on Thursday to close at $153.47, a constructive session that places the stock comfortably above the midpoint of its 52-week range of $105.525 to $176.395. The roughly 45% spread between the 52-week low and high reflects the volatility the energy sector has absorbed over the past year, and today's gain suggests near-term momentum is favoring the bulls heading into the options expiration windows highlighted by today's unusual flow.