12:45pm (EST)

ExxonMobil (XOM, $70.55, up $1.44) made it back over $70 today and is looking strong. The June 75 calls (XOMFO, $0.50, up $0.18) are up over 50% but are still slightly below our entry price of 63 cents. Some of you emailed me over the weekend with entry prices under 35 cents.

I’d like to see the shares run to $72 which is where we might find a small patch of resistance but if we can clear this level it paves the way to a run at $75-$76.

Las Vegas Sands (LVS, $9.84, up $0.61) was over $10 earlier this morning and the September 12.50 calls (LVSIC, $1.80, up $0.05) are holding steady after opening at $2.05. Our entry price was $1.70 and our initial target is $3.40 but a target of $2.50-$2.60 gets us 50%.

Rick Rouse
Rick@OptionsMentoring.com