Decoding ConocoPhillips's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bearish move on ConocoPhillips. Our analysis of options history for ConocoPhillips COP revealed 20 unusual trades.

Delving into the details, we found 35% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 12 were puts, with a value of $1,069,194, and 8 were calls, valued at $711,905.

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 $75.0 to $105.0 for ConocoPhillips during the past quarter.

Insights into Volume & Open Interest

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 ConocoPhillips'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 ConocoPhillips's whale activity within a strike price range from $75.0 to $105.0 in the last 30 days.

ConocoPhillips Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About ConocoPhillips

ConocoPhillips is a US-based independent exploration and production firm. In 2023, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2023 were 6.8 billion barrels of oil equivalent.

Having examined the options trading patterns of ConocoPhillips, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of ConocoPhillips

• With a trading volume of 8,159,647, the price of COP is down by -2.5%, reaching $90.31.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 58 days from now.

Expert Opinions on ConocoPhillips

In the last month, 4 experts released ratings on this stock with an average target price of $131.0.

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. * Maintaining their stance, an analyst from UBS continues to hold a Buy rating for ConocoPhillips, targeting a price of $137. * Reflecting concerns, an analyst from Raymond James lowers its rating to Outperform with a new price target of $124. * An analyst from Wells Fargo has decided to maintain their Overweight rating on ConocoPhillips, which currently sits at a price target of $128. * An analyst from Barclays persists with their Overweight rating on ConocoPhillips, maintaining a target price of $135.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for ConocoPhillips with Benzinga Pro for real-time alerts.