Financial giants have made a conspicuous bullish move on ConocoPhillips. Our analysis of options history for ConocoPhillips COP revealed 9 unusual trades.
Delving into the details, we found 77% of traders were bullish, while 22% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $318,590, and 4 were calls, valued at $295,771.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $105.0 and $130.0 for ConocoPhillips, spanning the last three months.
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 ConocoPhillips'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 ConocoPhillips's whale activity within a strike price range from $105.0 to $130.0 in the last 30 days.
ConocoPhillips 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| COP | CALL | SWEEP | BULLISH | 01/17/25 | $120.00 | $164.4K | 2.0K | 232 |
| COP | PUT | SWEEP | BEARISH | 01/17/25 | $105.00 | $100.9K | 973 | 189 |
| COP | PUT | SWEEP | BEARISH | 01/19/24 | $116.00 | $71.1K | 372 | 203 |
| COP | CALL | TRADE | BULLISH | 03/15/24 | $110.00 | $57.3K | 611 | 88 |
| COP | PUT | TRADE | BULLISH | 05/17/24 | $110.00 | $56.1K | 1.3K | 127 |
About ConocoPhillips
ConocoPhillips is a U.S.-based independent exploration and production firm. In 2022, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2022 were 6.6 billion barrels of oil equivalent.
In light of the recent options history for ConocoPhillips, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of ConocoPhillips
- With a trading volume of 2,598,136, the price of COP is down by -2.75%, reaching $113.33.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 31 days from now.
Expert Opinions on ConocoPhillips
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $136.66666666666666.
- Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on ConocoPhillips with a target price of $132.
- An analyst from UBS has decided to maintain their Buy rating on ConocoPhillips, which currently sits at a price target of $138.
- Maintaining their stance, an analyst from Raymond James continues to hold a Strong Buy rating for ConocoPhillips, targeting a price of $140.
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 ConocoPhillips with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
