Occidental Petroleum Unusual Options Activity For March 27

Investors with a lot of money to spend have taken a bearish stance on Occidental Petroleum OXY.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with OXY, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 13 uncommon options trades for Occidental Petroleum.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 61%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $371,768, and 7 are calls, for a total amount of $408,599.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $57.5 for Occidental Petroleum over the recent three months.

Analyzing Volume & Open Interest

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 $40.0 to $57.5 over the preceding 30 days.

Occidental Petroleum Option Volume And Open Interest Over 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.

In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Occidental Petroleum Standing Right Now?

• Trading volume stands at 2,623,254, with OXY's price up by 0.82%, positioned at $50.16.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 40 days.

Expert Opinions on Occidental Petroleum

4 market experts have recently issued ratings for this stock, with a consensus target price of $54.25.

Turn $1000 into $1270 in just 20 days?

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 Raymond James has revised its rating downward to Outperform, adjusting the price target to $64. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $50. * Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Occidental Petroleum with a target price of $51. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $52.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Occidental Petroleum options trades with real-time alerts from Benzinga Pro.