This Is What Whales Are Betting On Marathon Petroleum

Someone with a lot of money to spend has taken a bearish stance on Marathon Petroleum MPC.

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with MPC, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for Marathon Petroleum.

This isn't normal.

The overall sentiment of these big-money traders is split between 16% bullish and 83%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $141,990, and 8 are calls, for a total amount of $324,371.

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 $95.0 to $145.0 for Marathon Petroleum over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Marathon Petroleum options trades today is 179.0 with a total volume of 2,381.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Marathon Petroleum's big money trades within a strike price range of $95.0 to $145.0 over the last 30 days.

Marathon Petroleum Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MPC CALL SWEEP BEARISH 10/20/23 $145.00 $66.6K 184 675
MPC CALL SWEEP BEARISH 10/20/23 $145.00 $63.6K 184 637
MPC PUT SWEEP BEARISH 10/20/23 $120.00 $43.4K 222 79
MPC CALL SWEEP BULLISH 10/20/23 $95.00 $38.7K 0 9
MPC CALL SWEEP BEARISH 04/14/23 $135.00 $36.9K 120 115

Where Is Marathon Petroleum Standing Right Now?

  • With a volume of 3,084,026, the price of MPC is up 0.1% at $134.97.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 29 days.

What The Experts Say On Marathon Petroleum:

  • Goldman Sachs upgraded its action to Buy with a price target of $150
  • UBS downgraded its action to Buy with a price target of $165
  • JP Morgan downgraded its action to Neutral with a price target of $149
  • Mizuho upgraded its action to Buy with a price target of $160
  • Goldman Sachs has decided to maintain their Buy rating on Marathon Petroleum, which currently sits at a price target of $150.

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 Marathon Petroleum, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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