Investors with significant funds have taken a bearish position in Hess HES, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in HES usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 11 options transactions for Hess. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 36% being bullish and 63% bearish. Of all the options we discovered, 10 are puts, valued at $663,189, and there was a single call, worth $25,200.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $120.0 to $145.0 for Hess over the recent three months.
Volume & Open Interest Development
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 Hess'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 Hess's whale trades within a strike price range from $120.0 to $145.0 in the last 30 days.
Hess 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HES | PUT | SWEEP | BULLISH | 05/17/24 | $140.00 | $181.1K | 169 | 185 |
| HES | PUT | SWEEP | BULLISH | 03/15/24 | $145.00 | $96.9K | 78 | 1.6K |
| HES | PUT | TRADE | BEARISH | 01/19/24 | $140.00 | $84.0K | 2.5K | 316 |
| HES | PUT | SWEEP | BULLISH | 03/15/24 | $145.00 | $71.2K | 78 | 1.6K |
| HES | PUT | TRADE | BEARISH | 06/21/24 | $140.00 | $55.2K | 287 | 71 |
About Hess
Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2022, the company reported net proved reserves of 1.3 billion barrels of oil equivalent. Net production averaged 344 thousand barrels of oil equivalent per day in 2022, at a ratio of 72% oil and natural gas liquids and 28% natural gas.
Hess's Current Market Status
- Trading volume stands at 1,174,297, with HES's price down by -1.17%, positioned at $138.53.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 14 days.
What The Experts Say On Hess
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $195.0.
- An analyst from UBS persists with their Buy rating on Hess, maintaining a target price of $195.
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 Hess 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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