Sold XOM $149P expiring Friday — IVR hit 100 across the whole energy sector this morning. Gift or tr

Strait of Hormuz headlines pushed IV on energy names to max this morning. XOM, OXY, CVX, EOG, DVN - IVR at 100 across the board.

Sold the XOM $149P expiring Friday for $1.22 credit. Stock sitting at $151.75 so about 1.8% OTM, 74% POP. That's $122/contract for a 4-day hold with XOM needing to drop less than 2% to put you at risk.

The bull case for selling: elevated IV from a geopolitical scare that historically reverses fast. The bear case: these headlines can escalate just as quickly and oil is already moving.

Curious what other people are seeing - anyone else legging into energy premium right now or staying away until there's more clarity on the oil situation?