This Is What Whales Are Betting On Occidental Petroleum

Benzinga's options scanner just detected over 22 options trades for Occidental Petroleum OXY summing a total amount of $765,001.

At the same time, our algo caught 8 for a total amount of 367,481.

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 $20.0 to $82.5 for Occidental Petroleum over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $20.0 to $82.5 in the last 30 days.

Occidental Petroleum Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Occidental Petroleum Standing Right Now?

• With a volume of 5,684,704, the price of OXY is up 1.02% at $57.71.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 34 days.

What The Experts Say On Occidental Petroleum:

• Truist Securities has decided to maintain their Buy rating on Occidental Petroleum, which currently sits at a price target of $82.
• Piper Sandler has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $62.

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.