Financial giants have made a conspicuous bearish move on BP. Our analysis of options history for BP BP revealed 18 unusual trades.
Delving into the details, we found 22% of traders were bullish, while 77% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $483,907, and 14 were calls, valued at $899,895.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $20.0 and $50.0 for BP, spanning the last three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in BP's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to BP's substantial trades, within a strike price spectrum from $20.0 to $50.0 over the preceding 30 days.
BP 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 |
|---|---|---|---|---|---|---|---|---|
| BP | PUT | TRADE | BULLISH | 07/19/24 | $50.00 | $369.5K | 189 | 248 |
| BP | CALL | SWEEP | BEARISH | 01/17/25 | $37.00 | $204.9K | 3.2K | 81 |
| BP | CALL | SWEEP | BEARISH | 01/17/25 | $37.00 | $128.2K | 3.2K | 1.1K |
| BP | CALL | SWEEP | BULLISH | 01/16/26 | $23.00 | $117.3K | 464 | 92 |
| BP | PUT | SWEEP | BEARISH | 09/20/24 | $42.00 | $50.4K | 66 | 66 |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day. BP also holds a 20% ownership interest in Rosneft, which it plans to exit.
Having examined the options trading patterns of BP, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
BP's Current Market Status
- With a trading volume of 1,257,272, the price of BP is down by -2.61%, reaching $35.09.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 29 days from now.
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 BP 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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