A whale with a lot of money to spend has taken a noticeably bullish stance on Petrobras Brasileiro.
Looking at options history for Petrobras Brasileiro PBR we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $620,600 and 6, calls, for a total amount of $276,384.
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 $10.0 to $20.0 for Petrobras Brasileiro over the last 3 months.
Volume & Open Interest Development
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 Petrobras Brasileiro'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 Petrobras Brasileiro's whale activity within a strike price range from $10.0 to $20.0 in the last 30 days.
Petrobras Brasileiro Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PBR | PUT | TRADE | BULLISH | 01/19/24 | $11.00 | $265.0K | 7.7K | 14.3K |
| PBR | PUT | TRADE | BULLISH | 01/19/24 | $11.00 | $265.0K | 7.7K | 9.2K |
| PBR | CALL | SWEEP | BULLISH | 12/20/24 | $10.00 | $81.4K | 1.1K | 8 |
| PBR | CALL | SWEEP | NEUTRAL | 01/19/24 | $15.00 | $66.8K | 71.5K | 605 |
| PBR | PUT | TRADE | BULLISH | 01/19/24 | $20.00 | $58.0K | 35.2K | 0 |
Where Is Petrobras Brasileiro Standing Right Now?
- With a volume of 17,169,570, the price of PBR is up 2.34% at $14.42.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 32 days.
What The Experts Say On Petrobras Brasileiro:
- JP Morgan upgraded its action to Overweight with a price target of $15
- Goldman Sachs has decided to maintain their Neutral rating on Petrobras Brasileiro, which currently sits at a price target of $13.
- Morgan Stanley upgraded its action to Overweight with a price target of $16
- Goldman Sachs upgraded its action to Buy with a price target of $18
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 Petrobras Brasileiro, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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