Deep-pocketed investors have adopted a bearish 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 10 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 10% leaning bullish and 60% bearish. Among these notable options, 5 are puts, totaling $488,519, and 5 are calls, amounting to $179,680.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $65.0 for Occidental Petroleum over the last 3 months.
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 Occidental Petroleum'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 Occidental Petroleum's whale activity within a strike price range from $50.0 to $65.0 in 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 | BEARISH | 04/04/25 | $7.4 | $7.0 | $7.26 | $54.00 | $131.0K | 2 | 411 |
| OXY | PUT | SWEEP | NEUTRAL | 04/04/25 | $6.6 | $6.05 | $6.34 | $53.00 | $114.6K | 32 | 181 |
| OXY | PUT | SWEEP | NEUTRAL | 04/04/25 | $7.3 | $6.75 | $7.03 | $54.00 | $112.2K | 2 | 26 |
| OXY | PUT | TRADE | BULLISH | 03/21/25 | $3.05 | $3.0 | $3.0 | $50.00 | $105.0K | 5.6K | 361 |
| OXY | CALL | TRADE | BEARISH | 12/18/26 | $5.6 | $5.5 | $5.5 | $55.00 | $44.0K | 443 | 1 |
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.
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.
Occidental Petroleum's Current Market Status
- With a volume of 1,555,887, the price of OXY is down -0.18% at $46.91.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 57 days.
Expert Opinions on Occidental Petroleum
5 market experts have recently issued ratings for this stock, with a consensus target price of $58.6.
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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. * Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Overweight with a new price target of $71. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $56. * An analyst from Raymond James has revised its rating downward to Outperform, adjusting the price target to $64. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Occidental Petroleum with a target price of $52. * An analyst from Piper Sandler has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $50.
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.
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