Financial giants have made a conspicuous bullish move on Marathon Petroleum. Our analysis of options history for Marathon Petroleum MPC revealed 10 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $500,716, and 3 were calls, valued at $298,020.
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 $150.0 to $155.0 for Marathon Petroleum over the last 3 months.
Volume & Open Interest Trends
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 Marathon 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 Marathon Petroleum's whale trades within a strike price range from $150.0 to $155.0 in the last 30 days.
Marathon Petroleum Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MPC | PUT | SWEEP | BEARISH | 06/21/24 | $155.00 | $290.0K | 75 | 200 |
| MPC | CALL | SWEEP | BULLISH | 06/21/24 | $155.00 | $241.6K | 1.0K | 210 |
| MPC | PUT | SWEEP | BEARISH | 06/21/24 | $155.00 | $72.7K | 75 | 300 |
| MPC | PUT | SWEEP | BEARISH | 01/19/24 | $150.00 | $34.1K | 2.6K | 979 |
| MPC | CALL | TRADE | BEARISH | 06/21/24 | $155.00 | $28.6K | 1.0K | 285 |
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.
After a thorough review of the options trading surrounding Marathon Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Marathon Petroleum
- Trading volume stands at 2,073,201, with MPC's price up by 1.07%, positioned at $149.0.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 61 days.
Expert Opinions on Marathon Petroleum
1 market experts have recently issued ratings for this stock, with a consensus target price of $175.0.
- An analyst from Raymond James has decided to maintain their Strong Buy rating on Marathon Petroleum, which currently sits at a price target of $175.
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.
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