Value investor Duan Yongping said on Snowball on September 15 that he did not truly understand Occidental Petroleum (OXY), revealing he had sold covered calls on all his positions. He admitted that when OXY's stock price fell to around $40 recently, he dared not add to his position, which he said proves his lack of genuine understanding of the stock. 'If you don't truly understand, copying homework is also very difficult,' Duan wrote. He added that he has now sold covered calls on all his holdings, and would not feel pained even if the calls are exercised.

Duan's remarks come amid volatile trading in OXY, a stock heavily owned by Warren Buffett. As a veteran investor on China's Snowball platform, Duan's moves often draw attention from retail investors. His cautious stance on OXY has sparked discussion about investment logic in energy stocks, though he provided no details on strike prices or expiration dates.