Financial giants have made a conspicuous bullish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum OXY revealed 9 unusual trades.
Delving into the details, we found 77% of traders were bullish, while 22% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $285,832, and 3 were calls, valued at $168,650.
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 $57.0 to $80.0 for Occidental Petroleum over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Occidental Petroleum options trades today is 5690.38 with a total volume of 2,638.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Occidental Petroleum's big money trades within a strike price range of $57.0 to $80.0 over the last 30 days.
Occidental Petroleum 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | CALL | SWEEP | BULLISH | 01/16/26 | $1.93 | $1.63 | $1.93 | $80.00 | $96.5K | 1.7K | 510 |
| OXY | PUT | SWEEP | BULLISH | 01/16/26 | $7.6 | $7.55 | $7.55 | $60.00 | $75.6K | 5.5K | 200 |
| OXY | PUT | SWEEP | BEARISH | 01/16/26 | $7.55 | $7.4 | $7.55 | $60.00 | $75.4K | 5.5K | 100 |
| OXY | PUT | SWEEP | BULLISH | 12/20/24 | $4.75 | $4.65 | $4.65 | $60.00 | $46.5K | 4.3K | 104 |
| OXY | CALL | SWEEP | BULLISH | 09/20/24 | $1.79 | $1.69 | $1.77 | $57.50 | $44.6K | 5.2K | 289 |
About Occidental Petroleum
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.
In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Occidental Petroleum Standing Right Now?
- Currently trading with a volume of 7,262,449, the OXY's price is down by -2.8%, now at $57.33.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 84 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 Occidental Petroleum with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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