Financial giants have made a conspicuous bullish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum OXY revealed 21 unusual trades.
Delving into the details, we found 57% of traders were bullish, while 23% showed bearish tendencies. Out of all the trades we spotted, 12 were puts, with a value of $2,429,711, and 9 were calls, valued at $780,442.
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 $47.5 to $62.5 for Occidental Petroleum during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale activity within a strike price range from $47.5 to $62.5 in the last 30 days.
Occidental Petroleum 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | PUT | TRADE | NEUTRAL | 12/20/24 | $4.85 | $4.75 | $4.8 | $55.00 | $1.4M | 15.7K | 3.0K |
| OXY | PUT | SWEEP | BEARISH | 01/16/26 | $12.9 | $12.8 | $12.9 | $62.50 | $250.2K | 1.2K | 202 |
| OXY | CALL | SWEEP | BULLISH | 01/16/26 | $6.5 | $6.4 | $6.5 | $52.50 | $194.3K | 2.3K | 301 |
| OXY | PUT | SWEEP | BEARISH | 01/16/26 | $13.0 | $12.9 | $13.0 | $62.50 | $176.8K | 1.2K | 344 |
| OXY | CALL | TRADE | BULLISH | 11/15/24 | $1.6 | $1.57 | $1.6 | $50.00 | $160.0K | 4.5K | 1.4K |
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.
Occidental Petroleum's Current Market Status
- Trading volume stands at 5,960,348, with OXY's price down by -0.83%, positioned at $50.39.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 0 days.
What Analysts Are Saying About Occidental Petroleum
In the last month, 3 experts released ratings on this stock with an average target price of $63.333333333333336.
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. * Reflecting concerns, an analyst from B of A Securities lowers its rating to Neutral with a new price target of $57. * An analyst from JP Morgan downgraded its action to Neutral with a price target of $56. * An analyst from Susquehanna persists with their Positive rating on Occidental Petroleum, maintaining a target price of $77.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Occidental Petroleum, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
