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Actionable news in CHK: CHESAPEAKE ENERGY Corp,

Behind the $7 million bet against Exxon Mobil

Crude oil (New York Mercantile Exchange: @CL.1) fell to a two-month low this week and is close to breaking below $40 as concerns over mounting inventories and a slowing global economy had investors hitting the panic button.

The move lower in crude trickled down to big oil stocks, as the XLE (Mexico Stock Exchange: XLE-MX), the ETF that tracks the energy sector, fell 6 percent and tracked for its worst week since late August. And that sparked a flurry of bearish options activity in the biggest oil name of them all: Exxon Mobil (NYSE:...


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