Whales with a lot of money to spend have taken a noticeably bullish stance on Petrobras Brasileiro.
Looking at options history for Petrobras Brasileiro PBR we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 75% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $995,301 and 3, calls, for a total amount of $150,300.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $20.0 for Petrobras Brasileiro over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Petrobras Brasileiro'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 Petrobras Brasileiro's whale activity within a strike price range from $10.0 to $20.0 in the last 30 days.
Petrobras Brasileiro Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PBR | PUT | SWEEP | BULLISH | 01/17/25 | $7.9 | $6.8 | $6.8 | $20.00 | $282.2K | 14.6K | 896 |
| PBR | PUT | SWEEP | BULLISH | 01/17/25 | $8.0 | $6.8 | $6.8 | $20.00 | $201.9K | 14.6K | 0 |
| PBR | PUT | SWEEP | BULLISH | 01/17/25 | $8.0 | $6.8 | $6.8 | $20.00 | $160.4K | 14.6K | 0 |
| PBR | PUT | SWEEP | BULLISH | 01/17/25 | $7.9 | $6.55 | $6.8 | $20.00 | $116.2K | 14.6K | 541 |
| PBR | CALL | SWEEP | BEARISH | 07/19/24 | $0.32 | $0.29 | $0.3 | $14.00 | $91.2K | 1.9K | 7 |
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.
After a thorough review of the options trading surrounding Petrobras Brasileiro, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Petrobras Brasileiro
- Trading volume stands at 17,390,496, with PBR's price down by -0.59%, positioned at $13.51.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 45 days.
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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