As discussed earlier, a position of [lec-stock-link]XOM[/lec-stock-link] could have been opened at $36.61 on November 16, 2020. If a stop order was put in at the $77 target price for a 5% trailing limit order, it would have become effective today with an initial strike price of of $73.15. At close, the strike would have increased to $77.43 because the stock hit an intraday high of $81.51.
UPDATE: The stock price hit another high of $83.08 on February 7, 2022, moving the trailing limit strike price up to $78.93. On February 9, 2022, the strike price was observed. If the position were closed at this strike price, total gains of $45.81 per share could have been realized, which includes $3.49 in dividends. This equates to a return of 125.13% over a 15-month period, or 91.402% APY. (Coincidently, the strike price was observed on the ex-date of an 88ยข per share dividend, which would not have been received.)