Financial giants have made a conspicuous bullish move on BP. Our analysis of options history for BP BP revealed 13 unusual trades.
Delving into the details, we found 53% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $203,250, and 10 were calls, valued at $508,863.
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 $33.0 to $45.0 for BP over the last 3 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 BP's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to BP's substantial trades, within a strike price spectrum from $33.0 to $45.0 over the preceding 30 days.
BP 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BP | PUT | TRADE | BEARISH | 08/16/24 | $10.4 | $10.2 | $10.35 | $45.00 | $103.5K | 58 | 0 |
| BP | CALL | SWEEP | BULLISH | 08/02/24 | $0.28 | $0.24 | $0.27 | $36.00 | $98.2K | 3.4K | 4.2K |
| BP | PUT | TRADE | BULLISH | 10/18/24 | $0.75 | $0.72 | $0.71 | $33.00 | $71.0K | 725 | 1.0K |
| BP | CALL | SWEEP | NEUTRAL | 08/02/24 | $0.7 | $0.69 | $0.69 | $35.00 | $69.4K | 323 | 4.1K |
| BP | CALL | SWEEP | BULLISH | 08/02/24 | $0.67 | $0.64 | $0.67 | $35.00 | $59.8K | 323 | 2.0K |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.
BP's Current Market Status
- Currently trading with a volume of 12,401,666, the BP's price is up by 0.34%, now at $35.37.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 1 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 BP with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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