Investors with a lot of money to spend have taken a bullish stance on Petrobras Brasileiro PBR.
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 PBR, 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 8 uncommon options trades for Petrobras Brasileiro.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $114,662, and 4 are calls, for a total amount of $170,655.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $13.0 to $16.0 for Petrobras Brasileiro over the recent three 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 Petrobras Brasileiro'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 Petrobras Brasileiro's whale trades within a strike price range from $13.0 to $16.0 in the last 30 days.
Petrobras Brasileiro 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PBR | CALL | SWEEP | BEARISH | 07/19/24 | $16.00 | $64.6K | 1.7K | 8 |
| PBR | CALL | TRADE | BULLISH | 01/19/24 | $16.00 | $48.0K | 60.0K | 0 |
| PBR | PUT | TRADE | BULLISH | 07/19/24 | $16.00 | $35.0K | 250 | 200 |
| PBR | CALL | TRADE | BEARISH | 01/19/24 | $13.00 | $31.0K | 49 | 107 |
| PBR | PUT | TRADE | BEARISH | 12/20/24 | $15.00 | $28.7K | 30.9K | 302 |
About Petrobras Brasileiro
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production for oil and gas in Brazilian offshore fields. Production in 2022 was 2.7 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.5 billion boe (85% oil). At year-end 2022, Petrobras operated 11 refineries in Brazil with capacity of 1.9 million barrels a day and distributes refined products and natural gas throughout Brazil.
Following our analysis of the options activities associated with Petrobras Brasileiro, we pivot to a closer look at the company's own performance.
Petrobras Brasileiro's Current Market Status
- With a trading volume of 7,545,159, the price of PBR is up by 1.84%, reaching $16.07.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 65 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 Petrobras Brasileiro with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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