High-rolling investors have positioned themselves bullish on APA APA, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in APA often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 19 options trades for APA. This is not a typical pattern.
The sentiment among these major traders is split, with 68% bullish and 31% bearish. Among all the options we identified, there was one put, amounting to $27,788, and 18 calls, totaling $2,116,923.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.5 to $32.5 for APA over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for APA's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of APA's whale activity within a strike price range from $7.5 to $32.5 in the last 30 days.
APA 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| APA | CALL | TRADE | BULLISH | 01/19/24 | $15.00 | $187.8K | 320 | 800 |
| APA | CALL | TRADE | NEUTRAL | 01/19/24 | $15.00 | $187.2K | 320 | 560 |
| APA | CALL | TRADE | NEUTRAL | 01/19/24 | $15.00 | $187.2K | 320 | 320 |
| APA | CALL | TRADE | BEARISH | 01/19/24 | $15.00 | $186.6K | 320 | 1.0K |
| APA | CALL | SWEEP | BEARISH | 06/21/24 | $32.50 | $150.9K | 844 | 759 |
About APA
Based in Houston, APA is an independent exploration and production company. It operates primarily in the U.S., Egypt, the North Sea, and Suriname. At year-end 2022, proved reserves totaled 890 million barrels of oil equivalent, with net reported production of 400 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).
Current Position of APA
- With a trading volume of 3,501,084, the price of APA is down by -0.03%, reaching $30.8.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 34 days from now.
Expert Opinions on APA
In the last month, 4 experts released ratings on this stock with an average target price of $45.5.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on APA with a target price of $61.
- An analyst from Raymond James persists with their Strong Buy rating on APA, maintaining a target price of $44.
- An analyst from Johnson Rice has revised its rating downward to Hold, adjusting the price target to $40.
- In a cautious move, an analyst from Scotiabank downgraded its rating to Sector Perform, setting a price target of $37.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for APA, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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