Deep-pocketed investors have adopted a bullish approach towards Marathon Petroleum MPC, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MPC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Marathon Petroleum. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 46% bearish. Among these notable options, 3 are puts, totaling $88,970, and 10 are calls, amounting to $348,461.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $150.0 and $175.0 for Marathon Petroleum, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Marathon Petroleum's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Marathon Petroleum's substantial trades, within a strike price spectrum from $150.0 to $175.0 over the preceding 30 days.
Marathon Petroleum Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MPC | CALL | TRADE | BEARISH | 01/16/26 | $160.00 | $60.3K | 7 | 20 |
| MPC | CALL | TRADE | BEARISH | 03/01/24 | $160.00 | $39.2K | 56 | 58 |
| MPC | CALL | SWEEP | BEARISH | 02/23/24 | $150.00 | $37.9K | 2 | 22 |
| MPC | CALL | SWEEP | BULLISH | 04/19/24 | $175.00 | $35.5K | 999 | 93 |
| MPC | CALL | TRADE | BULLISH | 03/01/24 | $175.00 | $34.0K | 2 | 552 |
About Marathon Petroleum
Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 2.9 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.
In light of the recent options history for Marathon Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Marathon Petroleum
- Trading volume stands at 3,399,067, with MPC's price up by 1.32%, positioned at $162.25.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 0 days.
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 Marathon Petroleum with Benzinga Pro for real-time alerts.
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