Deep-pocketed investors have adopted a bearish approach towards APA APA, 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 APA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for APA. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 2 are puts, totaling $69,500, and 7 are calls, amounting to $342,044.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $27.5 to $35.0 for APA over the recent three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in APA's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to APA's substantial trades, within a strike price spectrum from $27.5 to $35.0 over the preceding 30 days.
APA 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| APA | CALL | SWEEP | BEARISH | 01/17/25 | $4.3 | $4.2 | $4.2 | $30.00 | $84.0K | 2.1K | 0 |
| APA | CALL | SWEEP | BEARISH | 08/16/24 | $4.5 | $4.4 | $4.4 | $27.50 | $66.0K | 701 | 161 |
| APA | CALL | TRADE | BEARISH | 07/19/24 | $2.31 | $2.12 | $2.15 | $29.50 | $47.3K | 813 | 6 |
| APA | CALL | TRADE | BULLISH | 08/16/24 | $4.5 | $4.15 | $4.4 | $27.50 | $44.0K | 701 | 61 |
| APA | CALL | TRADE | BEARISH | 07/19/24 | $3.15 | $2.95 | $2.95 | $29.00 | $42.7K | 1.3K | 244 |
About APA
Based in Houston, APA is an independent exploration and production company. It operates primarily in the US, Egypt, the North Sea, and Suriname. At year-end 2023, proved reserves totaled 807 million barrels of oil equivalent, with net reported production of 405 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).
Following our analysis of the options activities associated with APA, we pivot to a closer look at the company's own performance.
Present Market Standing of APA
- Trading volume stands at 4,402,037, with APA's price down by -0.44%, positioned at $32.01.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 12 days.
Professional Analyst Ratings for APA
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $37.4.
- An analyst from Truist Securities has decided to maintain their Buy rating on APA, which currently sits at a price target of $52.
- An analyst from Piper Sandler persists with their Neutral rating on APA, maintaining a target price of $34.
- An analyst from Bernstein has decided to maintain their Market Perform rating on APA, which currently sits at a price target of $30.
- In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $41.
- An analyst from Scotiabank has decided to maintain their Sector Perform rating on APA, which currently sits at a price target of $30.
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 APA with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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