Deep-pocketed investors have adopted a bearish approach towards Hess HES, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in HES usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Hess. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 6 are puts, totaling $913,213, and 2 are calls, amounting to $104,550.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $170.0 for Hess during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Hess'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 Hess's whale activity within a strike price range from $55.0 to $170.0 in the last 30 days.
Hess Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HES | PUT | TRADE | NEUTRAL | 06/21/24 | $115.00 | $697.2K | 138 | 1.5K |
| HES | PUT | SWEEP | BEARISH | 01/19/24 | $130.00 | $76.9K | 1.7K | 674 |
| HES | CALL | TRADE | NEUTRAL | 01/17/25 | $170.00 | $65.0K | 520 | 100 |
| HES | CALL | TRADE | BEARISH | 01/17/25 | $55.00 | $39.5K | 10 | 15 |
| HES | PUT | SWEEP | BEARISH | 06/21/24 | $105.00 | $36.7K | 297 | 0 |
About Hess
Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2022, the company reported net proved reserves of 1.3 billion barrels of oil equivalent. Net production averaged 344 thousand barrels of oil equivalent per day in 2022, at a ratio of 72% oil and natural gas liquids and 28% natural gas.
Where Is Hess Standing Right Now?
- With a volume of 3,517,742, the price of HES is down -1.97% at $133.59.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 48 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Hess options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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