Investors with a lot of money to spend have taken a bearish stance on Petrobras Brasileiro PBR.
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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with PBR, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Petrobras Brasileiro.
This isn't normal.
The overall sentiment of these big-money traders is split between 11% bullish and 88%, bearish.
Out of all of the options we uncovered, 8 are puts, for a total amount of $1,107,439, and there was 1 call, for a total amount of $30,030.
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 $16.0 to $19.0 for Petrobras Brasileiro during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Petrobras Brasileiro stands at 5408.75, with a total volume reaching 33,477.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Petrobras Brasileiro, situated within the strike price corridor from $16.0 to $19.0, throughout the last 30 days.
Petrobras Brasileiro 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 |
|---|---|---|---|---|---|---|---|---|
| PBR | PUT | TRADE | BEARISH | 04/19/24 | $19.00 | $253.9K | 1.1K | 0 |
| PBR | PUT | TRADE | BEARISH | 04/19/24 | $17.00 | $176.0K | 7.3K | 10.0K |
| PBR | PUT | TRADE | BEARISH | 04/19/24 | $17.00 | $157.5K | 7.3K | 2.0K |
| PBR | PUT | TRADE | BEARISH | 04/19/24 | $17.00 | $152.2K | 7.3K | 4.0K |
| PBR | PUT | TRADE | BEARISH | 04/19/24 | $16.00 | $102.7K | 10.1K | 2.0K |
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.
In light of the recent options history for Petrobras Brasileiro, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Petrobras Brasileiro
- With a volume of 5,443,325, the price of PBR is down -0.8% at $17.35.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 27 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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