Investors with a lot of money to spend have taken a bearish stance on BP BP.
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 BP, 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 10 uncommon options trades for BP.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $377,631, and 7 are calls, for a total amount of $1,126,380.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $13.0 to $40.0 for BP during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for BP options trades today is 1566.0 with a total volume of 1,597.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for BP's big money trades within a strike price range of $13.0 to $40.0 over the last 30 days.
BP 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BP | CALL | TRADE | NEUTRAL | 01/19/24 | $13.00 | $221.5K | 0 | 300 |
| BP | CALL | TRADE | NEUTRAL | 01/19/24 | $13.00 | $220.2K | 0 | 200 |
| BP | CALL | TRADE | BEARISH | 01/19/24 | $13.00 | $219.9K | 0 | 0 |
| BP | CALL | TRADE | NEUTRAL | 01/19/24 | $13.00 | $219.8K | 0 | 100 |
| BP | PUT | TRADE | BULLISH | 01/19/24 | $36.00 | $183.0K | 2.2K | 4 |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day. BP also holds a 20% ownership interest in Rosneft, which it plans to exit.
After a thorough review of the options trading surrounding BP, we move to examine the company in more detail. This includes an assessment of its current market status and a synthesis of what experts and analysts are saying about the stock.
Present Market Standing of BP
- With a trading volume of 2,988,567, the price of BP is up by 1.12%, reaching $34.85.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 89 days from now.
What The Experts Say On BP
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $43.0.
- Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for BP, targeting a price of $43.
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 BP, 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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