Investors with significant funds have taken a bearish position in Hess HES, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in HES usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 9 options transactions for Hess. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 22% being bullish and 66% bearish. Of all the options we discovered, 8 are puts, valued at $362,535, and there was a single call, worth $49,761.
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 $122.0 to $150.0 for Hess over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Hess's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Hess's whale trades within a strike price range from $122.0 to $150.0 in the last 30 days.
Hess 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HES | PUT | SWEEP | BULLISH | 07/19/24 | $4.9 | $3.7 | $4.0 | $150.00 | $80.0K | 880 | 200 |
| HES | PUT | SWEEP | BEARISH | 05/31/24 | $1.1 | $0.7 | $1.1 | $150.00 | $55.0K | 200 | 1.1K |
| HES | PUT | SWEEP | BEARISH | 05/31/24 | $1.0 | $0.7 | $1.0 | $150.00 | $50.0K | 200 | 605 |
| HES | CALL | SWEEP | BULLISH | 05/31/24 | $31.1 | $27.0 | $31.1 | $122.00 | $49.7K | 0 | 16 |
| HES | PUT | SWEEP | BEARISH | 06/21/24 | $2.8 | $2.75 | $2.8 | $150.00 | $43.1K | 1.6K | 471 |
About Hess
Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2023, the company reported net proved reserves of 1.4 billion barrels of oil equivalent. Net production averaged 391 thousand barrels of oil equivalent per day in 2023, at a ratio of 74% oil and natural gas liquids and 26% natural gas.
After a thorough review of the options trading surrounding Hess, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Hess
- With a volume of 4,052,860, the price of HES is up 0.44% at $152.05.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 57 days.
Expert Opinions on Hess
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $188.5.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Neutral rating for Hess, targeting a price of $167.
- Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Hess, targeting a price of $210.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Hess, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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