Oil Name Sees Bull Flow Near 200 Day EMA
Marathon Oil (MRO) opening sale 1500 October $22 puts for $3.10. Also a buyer of July 29th $22.50 calls bought over 3000x for $0.71. The lower beta energy name seeing support at the 200 day EMA here near 21.50 and put sellers showing confidence willing to be long after the near 30% decline since May highs. Nice potential for an oversold bounce back to 24 as a small falling wedge forms and MACD nears a bull cross.