Deep-pocketed investors have adopted a bullish approach towards Occidental Petroleum OXY, 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 OXY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 19 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 68% leaning bullish and 21% bearish. Among these notable options, 11 are puts, totaling $419,286, and 8 are calls, amounting to $345,970.
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 $35.0 to $57.5 for Occidental Petroleum during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Occidental Petroleum options trades today is 2391.0 with a total volume of 10,631.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Occidental Petroleum's big money trades within a strike price range of $35.0 to $57.5 over the last 30 days.
Occidental Petroleum Option Volume And Open Interest Over 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | PUT | SWEEP | BULLISH | 01/17/25 | $9.4 | $9.3 | $9.3 | $57.50 | $67.8K | 1.0K | 74 |
| OXY | CALL | TRADE | NEUTRAL | 05/16/25 | $3.1 | $3.0 | $3.05 | $50.00 | $61.0K | 5.0K | 851 |
| OXY | CALL | SWEEP | BULLISH | 05/16/25 | $3.05 | $2.92 | $3.0 | $50.00 | $60.0K | 5.0K | 236 |
| OXY | CALL | TRADE | BEARISH | 05/16/25 | $3.05 | $2.93 | $2.95 | $50.00 | $59.0K | 5.0K | 640 |
| OXY | PUT | TRADE | BULLISH | 01/17/25 | $6.95 | $6.8 | $6.85 | $55.00 | $45.2K | 9.9K | 66 |
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.
After a thorough review of the options trading surrounding Occidental Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Occidental Petroleum Standing Right Now?
- With a trading volume of 8,284,328, the price of OXY is up by 0.08%, reaching $48.16.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 48 days from now.
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 $56.25.
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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.
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