Financial giants have made a conspicuous bearish move on ConocoPhillips. Our analysis of options history for ConocoPhillips COP revealed 18 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $467,340, and 14 were calls, valued at $651,501.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $120.0 for ConocoPhillips over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for ConocoPhillips options trades today is 707.43 with a total volume of 11,505.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for ConocoPhillips's big money trades within a strike price range of $90.0 to $120.0 over the last 30 days.
ConocoPhillips Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| COP | PUT | SWEEP | BEARISH | 04/19/24 | $90.00 | $291.6K | 33 | 3.4K |
| COP | CALL | TRADE | BEARISH | 02/16/24 | $110.00 | $99.6K | 1.4K | 690 |
| COP | PUT | TRADE | BEARISH | 05/17/24 | $120.00 | $77.2K | 1.8K | 100 |
| COP | PUT | TRADE | BEARISH | 05/17/24 | $120.00 | $71.2K | 1.8K | 178 |
| COP | CALL | TRADE | BEARISH | 02/23/24 | $110.00 | $66.6K | 9 | 1.2K |
About ConocoPhillips
ConocoPhillips is a U.S.-based independent exploration and production firm. In 2022, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2022 were 6.6 billion barrels of oil equivalent.
After a thorough review of the options trading surrounding ConocoPhillips, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of ConocoPhillips
- With a trading volume of 2,631,262, the price of COP is down by -0.12%, reaching $106.8.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 20 days from now.
Professional Analyst Ratings for ConocoPhillips
2 market experts have recently issued ratings for this stock, with a consensus target price of $136.0.
- Maintaining their stance, an analyst from Raymond James continues to hold a Strong Buy rating for ConocoPhillips, targeting a price of $140.
- An analyst from Mizuho has decided to maintain their Neutral rating on ConocoPhillips, which currently sits at a price target of $132.
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 ConocoPhillips, 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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