Deep-pocketed investors have adopted a bearish approach towards Phillips 66 PSX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PSX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Phillips 66. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 3 are puts, totaling $353,365, and 6 are calls, amounting to $339,971.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $160.0 for Phillips 66 during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Phillips 66'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 Phillips 66's whale trades within a strike price range from $70.0 to $160.0 in the last 30 days.
Phillips 66 Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PSX | PUT | SWEEP | BEARISH | 12/20/24 | $9.2 | $9.1 | $9.2 | $129.00 | $230.0K | 255 | 250 |
| PSX | CALL | TRADE | BEARISH | 02/21/25 | $5.5 | $5.2 | $5.24 | $120.00 | $104.8K | 52 | 355 |
| PSX | PUT | TRADE | BEARISH | 01/15/27 | $18.4 | $17.6 | $18.2 | $120.00 | $91.0K | 50 | 50 |
| PSX | CALL | SWEEP | BULLISH | 02/21/25 | $5.5 | $4.9 | $5.25 | $120.00 | $73.2K | 52 | 155 |
| PSX | CALL | TRADE | BULLISH | 11/21/25 | $5.5 | $5.2 | $5.4 | $140.00 | $54.0K | 104 | 100 |
About Phillips 66
Phillips 66 is an independent refiner with 12 refineries that have a total crude throughput capacity of 1.8 million barrels per day, or mmb/d. In 2023, the Rodeo, California, facility ceased operations and be converted to produce renewable diesel. The midstream segment comprises extensive transportation and NGL processing assets and includes DCP Midstream, which holds 600 mbd of NGL fractionation and 22,000 miles of pipeline. Its CPChem chemical joint venture operates facilities in the United States and the Middle East and primarily produces olefins and polyolefins.
Having examined the options trading patterns of Phillips 66, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Phillips 66
- With a trading volume of 2,300,180, the price of PSX is down by -4.79%, reaching $116.84.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 44 days from now.
Professional Analyst Ratings for Phillips 66
2 market experts have recently issued ratings for this stock, with a consensus target price of $154.0.
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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 Wells Fargo persists with their Overweight rating on Phillips 66, maintaining a target price of $161. * An analyst from Mizuho persists with their Neutral rating on Phillips 66, maintaining a target price of $147.
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 Phillips 66, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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