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 8 extraordinary options activities for Schlumberger. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $173,765, and 5 are calls, amounting to $226,140.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $47.5 to $50.0 for Schlumberger over the last 3 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 Schlumberger's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Schlumberger's substantial trades, within a strike price spectrum from $47.5 to $50.0 over the preceding 30 days.
Schlumberger Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SLB | PUT | TRADE | BEARISH | 07/19/24 | $47.50 | $69.6K | 1.3K | 289 |
| SLB | CALL | TRADE | BULLISH | 07/19/24 | $47.50 | $66.3K | 1.0K | 308 |
| SLB | CALL | TRADE | BULLISH | 07/19/24 | $47.50 | $60.3K | 1.0K | 430 |
| SLB | PUT | TRADE | BEARISH | 07/19/24 | $47.50 | $56.7K | 1.3K | 296 |
| SLB | PUT | TRADE | BEARISH | 07/19/24 | $47.50 | $47.3K | 1.3K | 698 |
About Schlumberger
SLB 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.
Current Position of Schlumberger
- Trading volume stands at 4,303,439, with SLB's price down by -0.51%, positioned at $48.96.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 57 days.
Expert Opinions on Schlumberger
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $71.5.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $66.
- An analyst from Susquehanna downgraded its action to Positive with a price target of $77.
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 Schlumberger with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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