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Slay Trader | Trading Experts | SPX Trades | Stock Trading

XOM trade on 07/17/23

XOM screened as oversold in today’s screener.

Order Description SELL -20 VERTICAL XOM 100 18 AUG 23 90/85 PUT @.26 LMT [TO OPEN/TO OPEN]

Break Even Stock Prices 89.74

Max Profit $520.00

Buying Power: $9,500

Return: 61.5% annual

Max Loss $9,500.00 (not including possible dividend risk)

1% screening limit: 91.05

Earnings on 28th July. Stock pays 3.61% dividend.

XOM is screened as oversold at Level 1 in the screener today. Since the trade uses 1% screening limit, it is a higher risk trade so use defined loss and appropriate position sizing.

Today’s screener data. In first column, we have sets of 3 rows that have Level 1, Level 2, and Data Since labels. The Data Since rows describe the date at which valid data is available for its computations.

Next are the rows for Level 1 and Level 2. Let’s look at Level 1 first. In the rows for Level 1, a number greater than or equal to 1 indicates that on a price change % versus time basis, the symbol is overbought because it moved farther to the upside and faster than 99% of all other equivalent time periods in its history. These cells are highlighted light blue in the screener data file.

In the rows for Level 1, a number less or equal to zero indicates that on a price change % versus time basis, the symbol is oversold because it moved farther to the downside and faster than 99% of all other equivalent time periods in its history. These cells are highlighted light red in the screener data file.

Level 2 is similar to Level 1 except that instead of 99% of the history, it is 100% of the history implying the stock/ETF/index has never moved that far that fast for any equivalent period of time in my data set. Yellow highlighted cells simply highlight symbols that are near overbought or oversold on a Level 1 or Level 2 basis.

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