Spotlight on Schlumberger: Analyzing the Surge in Options Activity

Deep-pocketed investors have adopted a bullish approach towards Schlumberger SLB, 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 SLB usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Schlumberger. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 57% leaning bullish and 42% bearish. Among these notable options, 7 are puts, totaling $422,903, and 7 are calls, amounting to $273,590.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $42.5 to $62.5 for Schlumberger during the past quarter.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Schlumberger options trades today is 1200.89 with a total volume of 3,344.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Schlumberger's big money trades within a strike price range of $42.5 to $62.5 over the last 30 days.

Schlumberger Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Schlumberger

SLB, formerly known as Schlumberger, is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions. It maintains a reputation as one of the industry's leading innovators, which has earned it dominant share in numerous end markets.

Following our analysis of the options activities associated with Schlumberger, we pivot to a closer look at the company's own performance.

Present Market Standing of Schlumberger

• Currently trading with a volume of 9,356,633, the SLB's price is down by -0.13%, now at $48.93.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 74 days.

What The Experts Say On Schlumberger

In the last month, 5 experts released ratings on this stock with an average target price of $70.2.

• An analyst from Susquehanna has decided to maintain their Positive rating on Schlumberger, which currently sits at a price target of $77.
• Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Schlumberger with a target price of $64.
• An analyst from RBC Capital downgraded its action to Outperform with a price target of $66.
• Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Schlumberger with a target price of $74.
• An analyst from Wells Fargo has decided to maintain their Overweight rating on Schlumberger, which currently sits at a price target of $70.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Schlumberger options trades with real-time alerts from Benzinga Pro.