Financial giants have made a conspicuous bearish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum OXY revealed 10 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $78,920, and 8 were calls, valued at $1,492,850.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $75.0 for Occidental Petroleum over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Occidental Petroleum's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum's whale trades within a strike price range from $50.0 to $75.0 in the last 30 days.
Occidental Petroleum Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OXY | CALL | TRADE | BEARISH | 01/19/24 | $50.00 | $410.0K | 2.1K | 0 |
| OXY | CALL | TRADE | BULLISH | 01/19/24 | $50.00 | $406.5K | 2.1K | 1.0K |
| OXY | CALL | TRADE | BEARISH | 01/19/24 | $50.00 | $400.0K | 2.1K | 1.5K |
| OXY | CALL | TRADE | BEARISH | 01/16/26 | $50.00 | $77.5K | 1.4K | 103 |
| OXY | CALL | TRADE | BEARISH | 01/16/26 | $50.00 | $77.5K | 1.4K | 2 |
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.
Where Is Occidental Petroleum Standing Right Now?
- Trading volume stands at 1,509,724, with OXY's price up by 0.12%, positioned at $57.93.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 83 days.
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.
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