Deep-pocketed investors have adopted a bearish approach towards Petrobras Brasileiro PBR, 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 PBR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 20 extraordinary options activities for Petrobras Brasileiro. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 20% leaning bullish and 70% bearish. Among these notable options, 17 are puts, totaling $2,104,666, and 3 are calls, amounting to $140,197.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $12.0 to $15.0 for Petrobras Brasileiro over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Petrobras Brasileiro options trades today is 2936.0 with a total volume of 21,116.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Petrobras Brasileiro's big money trades within a strike price range of $12.0 to $15.0 over the last 30 days.
Petrobras Brasileiro Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PBR | PUT | TRADE | NEUTRAL | 10/18/24 | $1.75 | $1.59 | $1.67 | $15.00 | $668.0K | 5.6K | 0 |
| PBR | PUT | TRADE | NEUTRAL | 12/20/24 | $0.65 | $0.55 | $0.6 | $12.00 | $300.0K | 13.1K | 0 |
| PBR | PUT | SWEEP | BEARISH | 12/18/26 | $2.85 | $2.73 | $2.85 | $13.00 | $285.0K | 71 | 0 |
| PBR | PUT | SWEEP | BEARISH | 12/18/26 | $3.15 | $3.0 | $3.0 | $13.00 | $139.8K | 71 | 1.6K |
| PBR | PUT | TRADE | BULLISH | 12/18/26 | $3.0 | $2.91 | $2.91 | $13.00 | $110.5K | 71 | 1.0K |
About Petrobras Brasileiro
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production of oil and gas in Brazilian offshore fields. Production in 2023 was 2.8 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.9 billion boe (85% oil). At end-2023, Petrobras operated 10 refineries in Brazil with capacity of 1.8 million barrels a day and distributes refined products and natural gas throughout Brazil.
Following our analysis of the options activities associated with Petrobras Brasileiro, we pivot to a closer look at the company's own performance.
Current Position of Petrobras Brasileiro
- With a volume of 24,038,168, the price of PBR is down -2.53% at $14.23.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 50 days.
Expert Opinions on Petrobras Brasileiro
1 market experts have recently issued ratings for this stock, with a consensus target price of $17.7.
- An analyst from Jefferies has revised its rating downward to Hold, adjusting the price target to $17.
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 Petrobras Brasileiro, 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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