Deep-pocketed investors have adopted a bearish approach towards Occidental Petroleum OXY, 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 OXY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 19 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 52% bearish. Among these notable options, 3 are puts, totaling $156,346, and 16 are calls, amounting to $1,148,494.
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 $52.5 and $75.0 for Occidental Petroleum, spanning the last three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Occidental 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 Occidental Petroleum's substantial trades, within a strike price spectrum from $52.5 to $75.0 over the preceding 30 days.
Occidental Petroleum Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | CALL | SWEEP | BEARISH | 11/15/24 | $5.2 | $5.15 | $5.15 | $67.50 | $255.4K | 75 | 1.0K |
| OXY | CALL | SWEEP | BULLISH | 06/20/25 | $4.95 | $4.7 | $4.95 | $75.00 | $99.0K | 2.3K | 200 |
| OXY | PUT | TRADE | BULLISH | 01/17/25 | $1.12 | $1.1 | $1.1 | $52.50 | $88.0K | 8.2K | 825 |
| OXY | CALL | SWEEP | BULLISH | 05/17/24 | $1.62 | $1.61 | $1.62 | $67.50 | $81.0K | 2.7K | 3.8K |
| OXY | CALL | SWEEP | BULLISH | 05/17/24 | $1.59 | $1.58 | $1.59 | $67.50 | $79.5K | 2.7K | 2.3K |
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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.
Present Market Standing of Occidental Petroleum
- Trading volume stands at 3,089,627, with OXY's price up by 0.4%, positioned at $65.25.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 36 days.
Professional Analyst Ratings for Occidental Petroleum
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $70.5.
- An analyst from Mizuho has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $69.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Occidental Petroleum with a target price of $72.
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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