A financial giant has made a conspicuous bearish move on ConocoPhillips. Our analysis of options history for ConocoPhillips COP revealed 10 unusual trades. Delving into the details, we found 30% of traders were bullish, while 70% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $108,711, and 8 were calls, valued at $563,251.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $120.0 for ConocoPhillips over the last 3 months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for ConocoPhillips options trades today is 3894.25 with a total volume of 1,445.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for ConocoPhillips's big money trades within a strike price range of $110.0 to $120.0 over the last 30 days.
ConocoPhillips Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| COP | CALL | SWEEP | BEARISH | 05/17/24 | $115.00 | $170.5K | 122 | 288 |
| COP | CALL | SWEEP | BEARISH | 05/17/24 | $115.00 | $125.4K | 122 | 0 |
| COP | PUT | SWEEP | BEARISH | 01/19/24 | $110.00 | $69.4K | 3.9K | 9 |
| COP | CALL | SWEEP | BULLISH | 11/17/23 | $110.00 | $65.2K | 6.5K | 207 |
| COP | CALL | SWEEP | BEARISH | 05/17/24 | $115.00 | $56.1K | 122 | 238 |
Current Position of ConocoPhillips
- With a volume of 1,515,993, the price of COP is down -1.74% at $116.41.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 86 days.
What Analysts Are Saying About ConocoPhillips:
- Consistent in their evaluation, Susquehanna keeps a Positive rating on ConocoPhillips with a target price of $152.
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.
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