Financial giants have made a conspicuous bullish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum OXY revealed 24 unusual trades.
Delving into the details, we found 58% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $442,691, and 14 were calls, valued at $913,345.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $45.0 to $80.0 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 $45.0 to $80.0 in the last 30 days.
Occidental Petroleum 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OXY | CALL | TRADE | BEARISH | 02/16/24 | $60.00 | $256.0K | 678 | 1.0K |
| OXY | CALL | TRADE | NEUTRAL | 06/21/24 | $62.50 | $127.6K | 2.1K | 319 |
| OXY | CALL | TRADE | BEARISH | 01/16/26 | $50.00 | $83.0K | 844 | 102 |
| OXY | CALL | TRADE | BEARISH | 01/16/26 | $50.00 | $82.7K | 844 | 102 |
| OXY | PUT | SWEEP | NEUTRAL | 06/21/24 | $55.00 | $79.2K | 4.9K | 334 |
About Occidental Petroleum
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2022, the company reported net proved reserves of 3.8 billion barrels of oil equivalent. Net production averaged 1,159 thousand barrels of oil equivalent per day in 2022 at a ratio of 75% oil and natural gas liquids and 25% natural gas.
Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.
Where Is Occidental Petroleum Standing Right Now?
- With a trading volume of 10,814,688, the price of OXY is down by -1.73%, reaching $59.28.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 88 days from now.
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 Occidental Petroleum with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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