Marathon Petroleum's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bearish stance on Marathon Petroleum MPC.

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 MPC, 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 11 uncommon options trades for Marathon Petroleum.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $477,750, and 9 are calls, for a total amount of $2,770,636.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $145.0 for Marathon Petroleum over the recent three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Marathon Petroleum's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Marathon Petroleum's significant trades, within a strike price range of $90.0 to $145.0, over the past month.

Marathon Petroleum Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Marathon Petroleum

Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 2.9 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.

In light of the recent options history for Marathon Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Marathon Petroleum's Current Market Status

• With a volume of 1,382,227, the price of MPC is up 0.35% at $144.0.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 82 days.

What Analysts Are Saying About Marathon Petroleum

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $167.5.

• Consistent in their evaluation, an analyst from Raymond James keeps a Strong Buy rating on Marathon Petroleum with a target price of $175.
• An analyst from Morgan Stanley has decided to maintain their Overweight rating on Marathon Petroleum, which currently sits at a price target of $160.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Marathon Petroleum with Benzinga Pro for real-time alerts.