Investors with a lot of money to spend have taken a bullish stance on Diamondback Energy FANG.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FANG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Diamondback Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 33%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $41,550, and 8, calls, for a total amount of $894,440.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $160.0 to $200.0 for Diamondback Energy during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Diamondback Energy stands at 156.0, with a total volume reaching 549.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Diamondback Energy, situated within the strike price corridor from $160.0 to $200.0, throughout the last 30 days.
Diamondback Energy Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FANG | CALL | TRADE | BEARISH | 01/17/25 | $19.3 | $19.0 | $19.0 | $185.31 | $380.0K | 345 | 201 |
| FANG | CALL | SWEEP | BULLISH | 01/17/25 | $19.4 | $17.9 | $19.0 | $185.31 | $190.0K | 345 | 201 |
| FANG | CALL | TRADE | BULLISH | 01/17/25 | $19.4 | $17.9 | $19.0 | $185.31 | $152.0K | 345 | 1 |
| FANG | CALL | TRADE | BEARISH | 03/21/25 | $41.4 | $39.2 | $40.0 | $160.00 | $48.0K | 45 | 40 |
| FANG | PUT | TRADE | BEARISH | 10/11/24 | $2.9 | $2.55 | $2.77 | $195.00 | $41.5K | 273 | 183 |
About Diamondback Energy
Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2023, the company reported net proven reserves of 2.2 billion barrels of oil equivalent. Net production averaged about 448,000 barrels per day in 2023, at a ratio of 59% oil, 21% natural gas liquids, and 20% natural gas.
After a thorough review of the options trading surrounding Diamondback Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Diamondback Energy's Current Market Status
- Currently trading with a volume of 1,419,947, the FANG's price is down by -1.8%, now at $195.9.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 27 days.
Expert Opinions on Diamondback Energy
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $208.2.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from BMO Capital upgraded its action to Outperform with a price target of $215. * An analyst from Benchmark persists with their Buy rating on Diamondback Energy, maintaining a target price of $195. * An analyst from UBS persists with their Buy rating on Diamondback Energy, maintaining a target price of $223. * Showing optimism, an analyst from Barclays upgrades its rating to Overweight with a revised price target of $210. * An analyst from Morgan Stanley persists with their Overweight rating on Diamondback Energy, maintaining a target price of $198.
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 Diamondback Energy with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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