Financial giants have made a conspicuous bearish move on Phillips 66. Our analysis of options history for Phillips 66 PSX revealed 8 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $231,090, and 2 were calls, valued at $66,846.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $140.0 for Phillips 66 over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Phillips 66 stands at 617.0, with a total volume reaching 809.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Phillips 66, situated within the strike price corridor from $115.0 to $140.0, throughout the last 30 days.
Phillips 66 Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PSX | PUT | TRADE | BULLISH | 01/16/26 | $12.3 | $12.2 | $12.2 | $120.00 | $48.8K | 228 | 50 |
| PSX | PUT | TRADE | BEARISH | 01/16/26 | $12.0 | $11.6 | $11.9 | $120.00 | $48.7K | 228 | 101 |
| PSX | PUT | SWEEP | BULLISH | 01/16/26 | $11.3 | $10.2 | $10.2 | $115.00 | $40.8K | 1.4K | 75 |
| PSX | CALL | TRADE | BEARISH | 01/17/25 | $8.9 | $8.6 | $8.7 | $130.00 | $39.1K | 338 | 50 |
| PSX | PUT | TRADE | BEARISH | 01/16/26 | $10.2 | $8.6 | $10.0 | $115.00 | $36.0K | 1.4K | 175 |
About Phillips 66
Phillips 66 is an independent refiner with 12 refineries that have a total crude throughput capacity of 1.8 million barrels per day, or mmb/d. In 2023, the Rodeo, California, facility ceased operations and be converted to produce renewable diesel. The midstream segment comprises extensive transportation and NGL processing assets and includes DCP Midstream, which holds 600 mbd of NGL fractionation and 22,000 miles of pipeline. Its CPChem chemical joint venture operates facilities in the United States and the Middle East and primarily produces olefins and polyolefins.
Phillips 66's Current Market Status
- With a volume of 605,842, the price of PSX is up 1.56% at $130.3.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 41 days.
Expert Opinions on Phillips 66
4 market experts have recently issued ratings for this stock, with a consensus target price of $156.5.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Phillips 66, which currently sits at a price target of $182.
- An analyst from TD Cowen persists with their Buy rating on Phillips 66, maintaining a target price of $150.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Phillips 66, maintaining a target price of $144.
- Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Phillips 66, targeting a price of $150.
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 Phillips 66 with Benzinga Pro for real-time alerts.
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