Whales with a lot of money to spend have taken a noticeably bearish stance on BP.
Looking at options history for BP BP 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, 5 are puts, for a total amount of $531,117 and 6, calls, for a total amount of $469,675.
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 $25.0 and $47.0 for BP, spanning the last three months.
Insights into Volume & Open Interest
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 BP'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 BP's whale activity within a strike price range from $25.0 to $47.0 in the last 30 days.
BP Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BP | PUT | SWEEP | BEARISH | 04/19/24 | $36.00 | $242.2K | 2.5K | 20 |
| BP | PUT | TRADE | BEARISH | 01/16/26 | $47.00 | $190.5K | 1.4K | 0 |
| BP | CALL | SWEEP | NEUTRAL | 01/19/24 | $37.00 | $138.5K | 15.1K | 106 |
| BP | CALL | SWEEP | BULLISH | 02/16/24 | $36.00 | $112.6K | 2.1K | 1.0K |
| BP | CALL | SWEEP | BULLISH | 09/20/24 | $30.00 | $85.0K | 0 | 1 |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day. BP also holds a 20% ownership interest in Rosneft, which it plans to exit.
Current Position of BP
- With a volume of 5,074,938, the price of BP is up 1.77% at $36.13.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 34 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 BP with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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