Goldman Sachs suggests buying straddles on Occidental Petroleum
Goldman Sachs is out with a research note this morning, where it suggests that traders buy call straddles on Occidental Petroleum to gain exposure to a shale play in California.
Occidental Petroleum Corp said on Monday it is buying a stake in a major Canadian oil sands project for C$500 million, giving it a foothold in one of the world's biggest developing oil plays as crude prices surge.