Occidental Petroleum Unusual Options Activity For September 20

Whales with a lot of money to spend have taken a noticeably bullish stance on Occidental Petroleum.

Looking at options history for Occidental Petroleum OXY we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 44% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $203,760 and 7, calls, for a total amount of $659,920.

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 $40.0 to $65.0 for Occidental Petroleum over the last 3 months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Occidental Petroleum's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Occidental Petroleum's significant trades, within a strike price range of $40.0 to $65.0, over the past month.

Occidental Petroleum 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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.

Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.

Present Market Standing of Occidental Petroleum

• Trading volume stands at 4,072,063, with OXY's price down by -1.49%, positioned at $51.26.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 46 days.

Expert Opinions on Occidental Petroleum

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $69.66666666666667.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from UBS persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $59. * Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Occidental Petroleum, targeting a price of $78. * Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Occidental Petroleum with a target price of $72.

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 Occidental Petroleum options trades with real-time alerts from Benzinga Pro.