Whales with a lot of money to spend have taken a noticeably bearish stance on Occidental Petroleum.
Looking at options history for Occidental Petroleum OXY we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $121,638 and 10, calls, for a total amount of $905,343.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $75.0 for Occidental Petroleum over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Occidental Petroleum stands at 1461.4, with a total volume reaching 914.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Occidental Petroleum, situated within the strike price corridor from $30.0 to $75.0, throughout the last 30 days.
Occidental Petroleum Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OXY | CALL | SWEEP | BEARISH | 01/16/26 | $30.00 | $201.2K | 2.1K | 45 |
| OXY | CALL | SWEEP | BEARISH | 01/16/26 | $32.50 | $190.6K | 32 | 171 |
| OXY | CALL | SWEEP | BULLISH | 02/16/24 | $50.00 | $146.5K | 3.1K | 5 |
| OXY | CALL | SWEEP | BEARISH | 01/16/26 | $32.50 | $128.4K | 32 | 228 |
| OXY | PUT | SWEEP | BEARISH | 09/20/24 | $70.00 | $95.4K | 119 | 73 |
About Occidental Petroleum
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2022, the company reported net proved reserves of 3.8 billion barrels of oil equivalent. Net production averaged 1,159 thousand barrels of oil equivalent per day in 2022 at a ratio of 75% oil and natural gas liquids and 25% natural gas.
Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.
Present Market Standing of Occidental Petroleum
- Trading volume stands at 1,646,351, with OXY's price down by -0.42%, positioned at $56.5.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 22 days.
Professional Analyst Ratings for Occidental Petroleum
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $63.0.
- An analyst from Mizuho downgraded its action to Neutral with a price target of $63.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Occidental Petroleum with Benzinga Pro for real-time alerts.
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