Financial giants have made a conspicuous bearish move on Petrobras Brasileiro. Our analysis of options history for Petrobras Brasileiro PBR revealed 14 unusual trades.
Delving into the details, we found 7% of traders were bullish, while 92% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $1,992,114, and 3 were calls, valued at $213,861.
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 $10.0 to $18.0 for Petrobras Brasileiro over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Petrobras Brasileiro'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 Petrobras Brasileiro's whale activity within a strike price range from $10.0 to $18.0 in the last 30 days.
Petrobras Brasileiro Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PBR | PUT | SWEEP | BEARISH | 04/19/24 | $17.00 | $562.3K | 7.0K | 2.6K |
| PBR | PUT | SWEEP | BEARISH | 04/19/24 | $17.00 | $318.3K | 7.0K | 4.8K |
| PBR | PUT | SWEEP | BEARISH | 04/19/24 | $17.00 | $200.0K | 7.0K | 3.5K |
| PBR | PUT | SWEEP | BEARISH | 04/19/24 | $17.00 | $199.8K | 7.0K | 6.2K |
| PBR | PUT | SWEEP | BEARISH | 04/19/24 | $17.00 | $159.4K | 7.0K | 582 |
About Petrobras Brasileiro
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production for oil and gas in Brazilian offshore fields. Production in 2022 was 2.7 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.5 billion boe (85% oil). At year-end 2022, Petrobras operated 11 refineries in Brazil with capacity of 1.9 million barrels a day and distributes refined products and natural gas throughout Brazil.
Following our analysis of the options activities associated with Petrobras Brasileiro, we pivot to a closer look at the company's own performance.
Current Position of Petrobras Brasileiro
- Currently trading with a volume of 3,261,639, the PBR's price is down by -0.68%, now at $14.65.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 79 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Petrobras Brasileiro options trades with real-time alerts from Benzinga Pro.
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