Investors with a lot of money to spend have taken a bullish stance on Petrobras Brasileiro PBR.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PBR, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Petrobras Brasileiro.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 25%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $130,650, and 7, calls, for a total amount of $891,491.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2.5 to $15.0 for Petrobras Brasileiro over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Petrobras Brasileiro stands at 6339.5, with a total volume reaching 650.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Petrobras Brasileiro, situated within the strike price corridor from $2.5 to $15.0, throughout the last 30 days.
Petrobras Brasileiro 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PBR | CALL | SWEEP | BULLISH | 12/18/26 | $4.4 | $4.3 | $4.4 | $10.00 | $220.0K | 1.5K | 0 |
| PBR | CALL | TRADE | BEARISH | 07/26/24 | $13.5 | $10.4 | $11.6 | $2.50 | $208.8K | 230 | 50 |
| PBR | CALL | SWEEP | BULLISH | 07/19/24 | $11.1 | $8.95 | $11.1 | $3.00 | $166.5K | 250 | 100 |
| PBR | PUT | TRADE | NEUTRAL | 01/17/25 | $2.16 | $1.65 | $1.95 | $15.00 | $130.6K | 23.2K | 0 |
| PBR | CALL | SWEEP | BULLISH | 12/18/26 | $4.4 | $4.3 | $4.4 | $10.00 | $126.6K | 1.5K | 500 |
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.
Current Position of Petrobras Brasileiro
- Currently trading with a volume of 11,890,038, the PBR's price is down by -1.05%, now at $14.15.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 36 days.
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 Petrobras Brasileiro with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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