This Is What Whales Are Betting On Occidental Petroleum

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 9 options trades for Occidental Petroleum. This is not a typical pattern.

The sentiment among these major traders is split, with 33% bullish and 55% bearish. Among all the options we identified, there was one put, amounting to $43,560, and 8 calls, totaling $391,748.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $47.5 to $55.0 for Occidental Petroleum over the recent three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Occidental Petroleum's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Occidental Petroleum's substantial trades, within a strike price spectrum from $47.5 to $55.0 over the preceding 30 days.

Occidental Petroleum Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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 1,327 thousand barrels of oil equivalent per day in 2024 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.

Where Is Occidental Petroleum Standing Right Now?

• With a trading volume of 2,823,253, the price of OXY is down by -1.13%, reaching $51.5.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 74 days from now.

Expert Opinions on Occidental Petroleum

In the last month, 4 experts released ratings on this stock with an average target price of $56.0.

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. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Occidental Petroleum with a target price of $52. * Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Occidental Petroleum with a target price of $56. * An analyst from Goldman Sachs downgraded its action to Sell with a price target of $45. * Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Overweight with a new price target of $71.

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.