High-rolling investors have positioned themselves bearish on Occidental Petroleum OXY, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in OXY often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 14 options trades for Occidental Petroleum. This is not a typical pattern.
The sentiment among these major traders is split, with 14% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $32,430, and 13 calls, totaling $683,244.
Expected Price Movements
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 $55.0 for Occidental Petroleum over the last 3 months.
Volume & Open Interest Trends
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 $55.0, over the past month.
Occidental Petroleum Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | CALL | SWEEP | BULLISH | 02/21/25 | $1.55 | $1.53 | $1.53 | $55.00 | $61.2K | 12.0K | 405 |
| OXY | CALL | TRADE | NEUTRAL | 03/21/25 | $2.83 | $2.77 | $2.8 | $52.50 | $56.0K | 11.9K | 1.8K |
| OXY | CALL | TRADE | BEARISH | 03/21/25 | $2.83 | $2.76 | $2.77 | $52.50 | $55.4K | 11.9K | 1.6K |
| OXY | CALL | TRADE | BEARISH | 03/21/25 | $2.8 | $2.75 | $2.77 | $52.50 | $55.4K | 11.9K | 1.0K |
| OXY | CALL | SWEEP | BEARISH | 03/21/25 | $2.83 | $2.72 | $2.71 | $52.50 | $54.2K | 11.9K | 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.
In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Occidental Petroleum
- With a volume of 3,129,066, the price of OXY is up 0.27% at $50.63.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 84 days.
Expert Opinions on Occidental Petroleum
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $62.5.
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 Susquehanna persists with their Positive rating on Occidental Petroleum, maintaining a target price of $65. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $58. * An analyst from Stephens & Co. has decided to maintain their Overweight rating on Occidental Petroleum, which currently sits at a price target of $71. * In a cautious move, an analyst from JP Morgan downgraded its rating to Neutral, setting a price target of $56.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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