A whale with a lot of money to spend has taken a noticeably bearish stance on Occidental Petroleum.
Looking at options history for Occidental Petroleum OXY we detected 19 strange trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $702,472 and 12, calls, for a total amount of $771,910.
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 $23.0 to $67.5 for Occidental Petroleum 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 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 activity within a strike price range from $23.0 to $67.5 in the last 30 days.
Occidental Petroleum 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 |
|---|---|---|---|---|---|---|---|---|
| OXY | PUT | TRADE | BEARISH | 10/20/23 | $60.00 | $251.8K | 2.5K | 1.1K |
| OXY | CALL | TRADE | BULLISH | 01/19/24 | $67.50 | $183.1K | 5.1K | 697 |
| OXY | PUT | SWEEP | BEARISH | 06/21/24 | $55.00 | $158.7K | 3.7K | 734 |
| OXY | CALL | TRADE | BEARISH | 07/28/23 | $58.00 | $117.5K | 545 | 261 |
| OXY | PUT | SWEEP | BULLISH | 08/18/23 | $62.50 | $87.0K | 3.6K | 92 |
Where Is Occidental Petroleum Standing Right Now?
- With a volume of 6,494,565, the price of OXY is up 3.08% at $62.61.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 9 days.
What The Experts Say On Occidental Petroleum:
- Stephens & Co. downgraded its action to Overweight with a price target of $72
- Raymond James has decided to maintain their Strong Buy rating on Occidental Petroleum, which currently sits at a price target of $75.
- Citigroup downgraded its action to Neutral with a price target of $62
- Stephens & Co. has decided to maintain their Overweight rating on Occidental Petroleum, which currently sits at a price target of $69.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $60.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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