ExxonMobil Options Traders Pile Into Calls as Unusual Flow Tops $1.5M

By TrendSpider Editor

ExxonMobil Holdings Corporation is drawing attention in the options market Thursday, with four unusual contracts totaling $1,561,039 in premium, the bulk of it concentrated in bullish call positions. XOM shares are trading at $170.06, up 0.37% on the session, sitting in the upper half of its 52-week

ExxonMobil Options Traders Pile Into Calls as Unusual Flow Tops $1.5M

ExxonMobil Holdings Corporation is drawing attention in the options market Thursday, with four unusual contracts totaling $1,561,039 in premium, the bulk of it concentrated in bullish call positions. XOM shares are trading at $170.06, up 0.37% on the session, sitting in the upper half of its 52-week range of $112.51 to $188.50. The options flow skews decidedly to the upside, with three call contracts against one put, suggesting that at least some sophisticated traders are positioning for continued strength.

Key Drivers of the XOM Stock Move

• Main Catalyst: Four unusual options contracts were flagged today across two expiration dates, December 2026 and February 2027. The largest single contract is a $175 strike call expiring February 19, 2027, with 1,100 contracts traded against an open interest reading of 104%, meaning volume has essentially doubled existing open interest. That contract alone generated $1,001,000 in premium, making it the dominant signal in today's flow.
• Bull Case: Three of the four flagged contracts are calls, and two of them carry expiration dates reaching into February 2027, suggesting a multi-month bullish thesis. The $175 call at 1,100 contracts and the $165 in-the-money call with an open interest surge of 1,000% both point to traders with conviction that XOM can push above current levels. At $170.06, the $175 strike is only roughly $5 out of the money, making it a relatively near-the-money bet on continued upside.
• Bear Case: The $210 strike call expiring February 19, 2027, with 1,668 contracts and $205,164 in premium, could represent a hedge or spread leg rather than an outright directional bet, as that strike sits far above the current price and the 52-week high of $188.50. Additionally, the $160 put expiring February 19, 2027, with 500 contracts and $327,500 in premium, shows that at least some market participants are paying for downside protection through early next year.

The forward setup for XOM is worth watching closely heading into the final weeks of 2026. The stock is trading comfortably above the midpoint of its 52-week range, and the concentration of February 2027 expiration contracts suggests options traders are thinking beyond any near-term noise and positioning for a move over the next several months. The energy sector has been navigating a complex environment of fluctuating crude prices, geopolitical supply pressures, and shifting demand expectations, all of which tend to create outsized moves in a name like ExxonMobil. The in-the-money $165 call, while small in size at just 25 contracts, is notable for its 1,000% open interest reading, which signals that this strike saw an extreme burst of activity relative to what was already established there.

XOM Unusual Options Activity

• Contract 1: Call | Strike: $165 | Expiry: December 24, 2026 | Volume: 25 | Open Interest: 1,000% above prior OI | Status: In the Money | Premium: $27,375
• Contract 2: Call | Strike: $175 | Expiry: February 19, 2027 | Volume: 1,100 | Open Interest: 104% above prior OI | Status: Out of the Money | Premium: $1,001,000
• Contract 3: Call | Strike: $210 | Expiry: February 19, 2027 | Volume: 1,668 | Open Interest: 82% above prior OI | Status: Out of the Money | Premium: $205,164
• Contract 4: Put | Strike: $160 | Expiry: February 19, 2027 | Volume: 500 | Open Interest: 47% above prior OI | Status: Out of the Money | Premium: $327,500

XOM Seasonality

Energy stocks including ExxonMobil have historically shown relative strength during the fourth quarter as heating demand picks up and institutional portfolios rebalance into year-end. With the December 2026 and February 2027 expirations captured in today's flow, traders appear to be aligning their positioning with this historically constructive seasonal window for the energy sector.

XOM Relative Performance

XOM is holding at $170.06, representing a gain of 0.37% on Thursday and positioning the stock roughly 51% above its 52-week low of $112.51. The stock remains about 10% below its 52-week high of $188.50, leaving meaningful room for the $175 call buyers to profit if momentum continues. The options activity today suggests that relative to its own recent range, traders see the current price level as a favorable entry point for a move toward and potentially beyond the year's highs.