A financial giant has made a conspicuous bearish move on Diamondback Energy. Our analysis of options history for Diamondback Energy FANG revealed 12 unusual trades. Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $726,856, and 3 were calls, valued at $99,350.
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 $97.85 and $230.0 for Diamondback Energy, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Diamondback Energy options trades today is 109.5 with a total volume of 74.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Diamondback Energy's big money trades within a strike price range of $97.85 to $230.0 over the last 30 days.
Diamondback Energy Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FANG | PUT | SWEEP | BULLISH | 01/19/24 | $200.00 | $165.9K | 0 | 31 |
| FANG | PUT | SWEEP | BEARISH | 12/01/23 | $210.00 | $120.2K | 0 | 0 |
| FANG | PUT | SWEEP | NEUTRAL | 01/19/24 | $191.69 | $78.5K | 0 | 4 |
| FANG | PUT | TRADE | BEARISH | 06/21/24 | $220.00 | $76.8K | 0 | 0 |
| FANG | PUT | TRADE | NEUTRAL | 06/21/24 | $220.00 | $76.8K | 0 | 0 |
Current Position of Diamondback Energy
- With a volume of 807,471, the price of FANG is down -0.11% at $159.97.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 105 days.
What Analysts Are Saying About Diamondback Energy:
- Reflecting concerns, Benchmark lowers its rating to Buy with a new price target of $154.
- Susquehanna persists with their Positive rating on Diamondback Energy, maintaining a target price of $200.
- Citigroup has revised its rating downward to Neutral, adjusting the price target to $170.
- Maintaining their stance, Wells Fargo continues to hold a Overweight rating for Diamondback Energy, targeting a price of $190.
- Morgan Stanley has decided to maintain their Overweight rating on Diamondback Energy, which currently sits at a price target of $169.
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 Diamondback Energy with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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