Whales with a lot of money to spend have taken a noticeably bearish stance on Marathon Petroleum.
Looking at options history for Marathon Petroleum MPC we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $212,285 and 5, calls, for a total amount of $888,610.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $140.0 and $160.0 for Marathon Petroleum, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Marathon Petroleum's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Marathon Petroleum's substantial trades, within a strike price spectrum from $140.0 to $160.0 over the preceding 30 days.
Marathon Petroleum 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MPC | CALL | SWEEP | BULLISH | 07/19/24 | $155.00 | $680.0K | 7 | 0 |
| MPC | CALL | TRADE | BEARISH | 01/19/24 | $155.00 | $106.8K | 2.0K | 575 |
| MPC | PUT | SWEEP | BEARISH | 01/19/24 | $150.00 | $106.2K | 3.1K | 772 |
| MPC | PUT | SWEEP | BULLISH | 01/19/24 | $150.00 | $42.1K | 3.1K | 453 |
| MPC | CALL | SWEEP | BEARISH | 01/26/24 | $160.00 | $40.1K | 4 | 132 |
About Marathon Petroleum
Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 2.9 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.
After a thorough review of the options trading surrounding Marathon Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Marathon Petroleum's Current Market Status
- With a trading volume of 1,645,944, the price of MPC is up by 1.5%, reaching $150.61.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 43 days from now.
What The Experts Say On Marathon Petroleum
1 market experts have recently issued ratings for this stock, with a consensus target price of $169.0.
- An analyst from Wells Fargo has elevated its stance to Overweight, setting a new price target at $169.
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 Marathon Petroleum options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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