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Barchart
Barchart
Mark R. Hake, CFA

RARE PHOTOS: Exxon stock is still cheap here shorting otm puts sets a lower buy in | Vintage Vibes

OTM XOM Exxon Barchart Yahoo Finance

ExxonMobil Corp (XOM) stock is still well below many analysts' price targets. Based on its strong free cash flow, XOM stock is worth at least $127 per share, or 11% more. Moreover, shorting out-of-the-money (OTM) puts provides a potential lower buy-in.

XOM is at $114.50 in midday trading on Monday, June 23. That is up from its lows but still off recent highs - $119.04 on April 4. However, it has further upside, as I discussed in a May 2 Barchart article ("ExxonMobil's Free Cash Flow is Attracting Value Buyers to XOM Stock").

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