Someone with a lot of money to spend has taken a bearish stance on Hess HES.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with HES, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Hess.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $168,000, and 10, calls, for a total amount of $661,046..
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $105.0 to $125.0 for Hess over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Hess options trades today is 735.8 with a total volume of 3,093.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Hess's big money trades within a strike price range of $105.0 to $125.0 over 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 | CALL | SWEEP | NEUTRAL | 09/16/22 | $105.00 | $183.4K | 589 | 131 |
| HES | PUT | SWEEP | BEARISH | 09/16/22 | $120.00 | $168.0K | 714 | 301 |
| HES | CALL | SWEEP | NEUTRAL | 09/16/22 | $105.00 | $117.7K | 589 | 313 |
| HES | CALL | SWEEP | BULLISH | 09/16/22 | $105.00 | $56.3K | 589 | 180 |
| HES | CALL | TRADE | NEUTRAL | 10/21/22 | $110.00 | $56.0K | 154 | 45 |
Where Is Hess Standing Right Now?
- With a volume of 1,146,832, the price of HES is up 0.51% at $118.56.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 48 days.
What The Experts Say On Hess:
- Barclays has decided to maintain their Overweight rating on Hess, which currently sits at a price target of $146.
- Raymond James has decided to maintain their Outperform rating on Hess, which currently sits at a price target of $140.
- Morgan Stanley has decided to maintain their Overweight rating on Hess, which currently sits at a price target of $134.
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 Hess, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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