Someone with a lot of money to spend has taken a bearish stance on Exxon Mobil XOM.
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 XOM, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 37 uncommon options trades for Exxon Mobil.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.
Out of all of the special options we uncovered, 23 are puts, for a total amount of $2,255,092, and 14 are calls, for a total amount of $795,199.
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 $50.0 to $160.0 for Exxon Mobil over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Exxon Mobil options trades today is 7545.31 with a total volume of 15,854.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Exxon Mobil's big money trades within a strike price range of $50.0 to $160.0 over the last 30 days.
Exxon Mobil 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 |
|---|---|---|---|---|---|---|---|---|
| XOM | PUT | TRADE | BULLISH | 01/17/25 | $120.00 | $885.0K | 5.5K | 500 |
| XOM | PUT | TRADE | BEARISH | 01/19/24 | $97.50 | $475.0K | 18.7K | 2.5K |
| XOM | CALL | SWEEP | NEUTRAL | 11/03/23 | $108.00 | $126.8K | 634 | 940 |
| XOM | CALL | TRADE | BULLISH | 11/10/23 | $111.00 | $116.2K | 2.8K | 223 |
| XOM | CALL | SWEEP | BEARISH | 01/17/25 | $50.00 | $89.0K | 105 | 0 |
Where Is Exxon Mobil Standing Right Now?
- With a volume of 11,498,883, the price of XOM is down -0.78% at $108.6.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 3 days.
What The Experts Say On Exxon Mobil:
- RBC Capital downgraded its action to Sector Perform with a price target of $120
- Morgan Stanley has decided to maintain their Overweight rating on Exxon Mobil, which currently sits at a price target of $131.
- UBS has decided to maintain their Buy rating on Exxon Mobil, which currently sits at a price target of $143.
- Mizuho downgraded its action to Buy with a price target of $139
- Bernstein downgraded its action to Outperform with a price target of $140
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 Exxon Mobil, 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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