Decoding Occidental Petroleum's Options Activity: What's the Big Picture?

High-rolling investors have positioned themselves bullish on Occidental Petroleum OXY, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in OXY often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 11 options trades for Occidental Petroleum. This is not a typical pattern.

The sentiment among these major traders is split, with 63% bullish and 36% bearish. Among all the options we identified, there was one put, amounting to $192,550, and 10 calls, totaling $387,254.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $47.0 to $60.0 for Occidental Petroleum during the past quarter.

Volume & Open Interest Trends

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 Occidental Petroleum'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 Occidental Petroleum's whale activity within a strike price range from $47.0 to $60.0 in the last 30 days.

Occidental Petroleum Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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.

Present Market Standing of Occidental Petroleum

• With a trading volume of 5,370,025, the price of OXY is up by 0.39%, reaching $57.0.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 68 days from now.

Expert Opinions on Occidental Petroleum

In the last month, 4 experts released ratings on this stock with an average target price of $69.0.

• Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Occidental Petroleum with a target price of $65.
• An analyst from Truist Securities has decided to maintain their Hold rating on Occidental Petroleum, which currently sits at a price target of $65.
• Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $70.
• In a cautious move, an analyst from Stephens & Co. downgraded its rating to Overweight, setting a price target of $76.

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 Occidental Petroleum, Benzinga Pro gives you real-time options trades alerts.