Investors with a lot of money to spend have taken a bullish stance on BHP Group BHP.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BHP, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 12 uncommon options trades for BHP Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 41%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $258,060, and 9 are calls, for a total amount of $457,015.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $90.0 for BHP Group during the past quarter.
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 BHP Group'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 BHP Group's whale activity within a strike price range from $55.0 to $90.0 in the last 30 days.
BHP Group 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 |
|---|---|---|---|---|---|---|---|---|
| BHP | PUT | SWEEP | BEARISH | 01/16/26 | $90.00 | $144.1K | 0 | 54 |
| BHP | PUT | SWEEP | BULLISH | 05/17/24 | $85.00 | $80.3K | 598 | 0 |
| BHP | CALL | SWEEP | BEARISH | 01/19/24 | $65.00 | $73.3K | 3.3K | 1.1K |
| BHP | CALL | SWEEP | BULLISH | 01/19/24 | $65.00 | $70.5K | 3.3K | 35 |
| BHP | CALL | SWEEP | NEUTRAL | 02/16/24 | $62.50 | $65.5K | 1.8K | 135 |
About BHP Group
BHP is a global diversified miner mainly supplying iron ore and copper. The merger of BHP Limited and Billiton PLC created the present-day BHP Group. The dual listed structure from the 2001 BHP and Billiton merger was collapsed in 2022. Major assets include Pilbara iron ore and Escondida copper. Onshore U.S. oil and gas assets were sold in 2018 and the remaining Petroleum assets were spun off and merged with Woodside in 2022, with BHP vesting the Woodside shares it received to BHP shareholders. BHP is growing its nickel business to supply more battery grade nickel and is also entering the potash market through the development of its Jansen mine in Canada. It also purchased copper miner Oz Minerals in fiscal 2023.
Following our analysis of the options activities associated with BHP Group, we pivot to a closer look at the company's own performance.
Current Position of BHP Group
- Currently trading with a volume of 1,435,053, the BHP's price is up by 1.36%, now at $64.92.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 70 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 BHP Group, 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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