Whales with a lot of money to spend have taken a noticeably bullish stance on Occidental Petroleum.
Looking at options history for Occidental Petroleum OXY we detected 25 trades.
If we consider the specifics of each trade, it is accurate to state that 64% of the investors opened trades with bullish expectations and 36% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $834,780 and 17, calls, for a total amount of $674,453.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $47.5 to $80.0 for Occidental Petroleum over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Occidental Petroleum stands at 3851.22, with a total volume reaching 12,084.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Occidental Petroleum, situated within the strike price corridor from $47.5 to $80.0, throughout the last 30 days.
Occidental Petroleum Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OXY | PUT | SWEEP | BULLISH | 02/02/24 | $62.00 | $289.7K | 115 | 500 |
| OXY | PUT | SWEEP | BEARISH | 08/16/24 | $67.50 | $207.0K | 365 | 181 |
| OXY | PUT | SWEEP | BEARISH | 06/20/25 | $52.50 | $115.6K | 2.9K | 230 |
| OXY | CALL | SWEEP | BULLISH | 09/20/24 | $50.00 | $73.0K | 425 | 0 |
| OXY | CALL | SWEEP | BULLISH | 08/16/24 | $50.00 | $69.6K | 11 | 75 |
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.
After a thorough review of the options trading surrounding Occidental Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Occidental Petroleum
- Trading volume stands at 4,827,166, with OXY's price down by -0.94%, positioned at $56.09.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 28 days.
Expert Opinions on Occidental Petroleum
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $63.0.
- Reflecting concerns, an analyst from Mizuho lowers its rating to Neutral with a new price target of $63.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Occidental Petroleum, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
