Occidental Petroleum Unusual Options Activity

Investors with a lot of money to spend have taken a bullish 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 16 uncommon options trades for Occidental Petroleum.

This isn't normal.

The overall sentiment of these big-money traders is split between 56% bullish and 31%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $561,053, and 7 are calls, for a total amount of $655,950.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $37.5 to $70.0 for Occidental Petroleum over the recent three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Occidental Petroleum stands at 3372.07, with a total volume reaching 8,988.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Occidental Petroleum, situated within the strike price corridor from $37.5 to $70.0, throughout the last 30 days.

Occidental Petroleum Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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.

Current Position of Occidental Petroleum

• Currently trading with a volume of 5,073,250, the OXY's price is down by -8.25%, now at $45.26.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 34 days.

What The Experts Say On Occidental Petroleum

5 market experts have recently issued ratings for this stock, with a consensus target price of $55.0.

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. * An analyst from JP Morgan has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $52. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Occidental Petroleum with a target price of $58. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $50. * Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $51. * Reflecting concerns, an analyst from Raymond James lowers its rating to Outperform with a new price target of $64.

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 Occidental Petroleum with Benzinga Pro for real-time alerts.