Decoding APA's Options Activity: What's the Big Picture?

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 23 extraordinary options activities for APA. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 21% leaning bullish and 73% bearish. Among these notable options, 21 are puts, totaling $3,921,392, and 2 are calls, amounting to $456,900.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $22.5 to $42.5 for APA over the last 3 months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of APA stands at 3133.44, with a total volume reaching 10,759.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in APA, situated within the strike price corridor from $22.5 to $42.5, throughout the last 30 days.

APA Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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).

Having examined the options trading patterns of APA, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is APA Standing Right Now?

• Currently trading with a volume of 5,235,121, the APA's price is down by -1.84%, now at $23.41.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 49 days.

What Analysts Are Saying About APA

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $41.2.

• Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on APA with a target price of $29.
• An analyst from Barclays has decided to maintain their Equal-Weight rating on APA, which currently sits at a price target of $35.
• Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for APA, targeting a price of $52.
• Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on APA with a target price of $49.
• An analyst from RBC Capital downgraded its action to Sector Perform with a price target of $41.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest APA options trades with real-time alerts from Benzinga Pro.