Exxon Mobil Corporation (XOM) Covered Calls

Exxon Mobil Corporation covered calls Exxon Mobil Corporation is a global energy and chemical leader that explores for, produces, and sells crude oil, natural gas, and petroleum products. The company operates through three primary segments: Upstream, Product Solutions, and Low Carbon Solutions. It is a major manufacturer of performance chemicals, lubricants, and plastics. ExxonMobil is increasingly focusing on technology-led growth, including carbon capture and storage, hydrogen, and lithium production for the energy transition.

You can sell covered calls on Exxon Mobil Corporation to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for XOM (prices last updated Fri 4:16 PM ET):

Exxon Mobil Corporation (XOM) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
148.45 -1.48 148.40 148.75 20.1M 22 632
Covered Calls For Exxon Mobil Corporation (XOM)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Feb 20 148 2.24 146.51 1.0% 45.6%
Mar 20 150 4.40 144.35 3.0% 30.4%
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Core Business and Products

Exxon Mobil Corporation is one of the largest integrated energy providers and chemical manufacturers in the world. The company’s business model is built on an "integrated value chain" that captures value from the initial discovery of oil and gas molecules through to the delivery of high-value finished products. As of 2026, the firm is organized into three global businesses:

  1. Upstream: This segment manages the exploration and production of oil and natural gas. ExxonMobil is currently focused on high-return, advantaged assets in the Permian Basin, Guyana, and Brazil. In the Permian, the company has shifted to a "manufacturing-style" drilling model, leveraging AI and standardized designs to improve recovery rates.
  2. Product Solutions: This division integrates refining and chemical operations to produce fuels, lubricants, and performance chemicals. It is a global leader in high-performance plastics and synthetic rubber. The segment is increasingly shifting its output toward non-combusted products and lower-emission fuels like renewable diesel.
  3. Low Carbon Solutions: A relatively new but rapidly scaling segment focused on commercializing carbon capture and storage (CCS), hydrogen, and lithium. The company aims to provide decarbonization services to "hard-to-abate" industries like steel and cement manufacturing.

Competitive Landscape

ExxonMobil operates in a capital-intensive industry where it competes with other Integrated Oil Companies (IOCs) and independent exploration and production firms for resources and market share:

  1. Global Integrated Peers: Its most direct competitors are Chevron and Shell, both of which possess similar global scale and integrated downstream portfolios. The company also competes with BP and TotalEnergies.
  2. Independent Producers: In the North American shale market, particularly the Permian Basin, ExxonMobil vies for acreage and efficiency gains against ConocoPhillips, Diamondback Energy, and EOG Resources.
  3. Energy Infrastructure: In the midstream and logistics space, the company often interacts and competes with Enterprise Products Partners and Kinder Morgan for pipeline capacity and liquids handling.

Strategic Outlook and Technology

In 2026, ExxonMobil is positioning itself as a "technology-led energy company" rather than a traditional driller. A major pillar of its current strategy is the Discovery 6 supercomputer, which allows the company to process seismic data at unprecedented speeds, significantly reducing the risk of "dry holes" and optimizing well placement in real-time. The company has also made a major entry into the critical minerals space with its "Mobil Lithium" brand, targeting the production of enough lithium to supply over one million electric vehicles per year by 2030. By integrating carbon capture technology directly into its industrial complexes on the U.S. Gulf Coast, ExxonMobil aims to maintain its relevance in a lower-carbon world while continuing to meet the global demand for affordable and reliable energy.