Investors with significant funds have taken a bullish position in ConocoPhillips COP, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in COP usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for ConocoPhillips. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 87% being bullish and 0% bearish. Of all the options we discovered, 7 are puts, valued at $440,150, and there was a single call, worth $94,185.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $115.0 for ConocoPhillips during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for ConocoPhillips's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across ConocoPhillips's significant trades, within a strike price range of $100.0 to $115.0, over the past month.
ConocoPhillips Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COP | PUT | TRADE | BULLISH | 03/21/25 | $10.7 | $10.4 | $10.4 | $110.00 | $127.9K | 1.0K | 341 |
| COP | PUT | TRADE | BULLISH | 03/21/25 | $10.45 | $10.35 | $10.35 | $110.00 | $126.2K | 1.0K | 125 |
| COP | CALL | SWEEP | BULLISH | 03/21/25 | $8.05 | $7.95 | $8.05 | $105.00 | $94.1K | 458 | 9 |
| COP | PUT | TRADE | BULLISH | 11/15/24 | $12.8 | $12.0 | $12.0 | $115.00 | $60.0K | 1.7K | 0 |
| COP | PUT | TRADE | BULLISH | 03/21/25 | $10.4 | $10.35 | $10.35 | $110.00 | $38.2K | 1.0K | 194 |
About ConocoPhillips
ConocoPhillips is a US-based independent exploration and production firm. In 2023, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2023 were 6.8 billion barrels of oil equivalent.
After a thorough review of the options trading surrounding ConocoPhillips, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of ConocoPhillips
- Trading volume stands at 2,094,178, with COP's price down by -0.14%, positioned at $104.57.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 31 days.
Professional Analyst Ratings for ConocoPhillips
In the last month, 5 experts released ratings on this stock with an average target price of $137.2.
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. * Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on ConocoPhillips with a target price of $138. * An analyst from RBC Capital downgraded its action to Outperform with a price target of $140. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for ConocoPhillips, targeting a price of $132. * An analyst from Mizuho has decided to maintain their Neutral rating on ConocoPhillips, which currently sits at a price target of $129. * An analyst from Susquehanna persists with their Positive rating on ConocoPhillips, maintaining a target price of $147.
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 ConocoPhillips options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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