Whales with a lot of money to spend have taken a noticeably bearish stance on Occidental Petroleum.
Looking at options history for Occidental Petroleum OXY we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $379,638 and 7, calls, for a total amount of $512,090.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $75.0 for Occidental Petroleum, spanning the last three 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 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 $75.0 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 | PUT | TRADE | BULLISH | 06/21/24 | $55.00 | $191.1K | 5.3K | 676 |
| OXY | CALL | SWEEP | BULLISH | 06/21/24 | $45.00 | $150.0K | 427 | 100 |
| OXY | CALL | TRADE | BULLISH | 02/16/24 | $60.00 | $100.0K | 1.6K | 54 |
| OXY | PUT | TRADE | BEARISH | 02/16/24 | $57.50 | $85.5K | 1.9K | 469 |
| OXY | CALL | TRADE | BEARISH | 01/16/26 | $50.00 | $78.7K | 1.1K | 100 |
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.
In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Occidental Petroleum's Current Market Status
- Trading volume stands at 8,204,484, with OXY's price down by -0.71%, positioned at $58.41.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 84 days.
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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