Financial giants have made a conspicuous bearish move on ConocoPhillips. Our analysis of options history for ConocoPhillips COP revealed 9 unusual trades.
Delving into the details, we found 44% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $224,560, and 6 were calls, valued at $315,956.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $125.0 to $160.0 for ConocoPhillips over the last 3 months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for ConocoPhillips's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across ConocoPhillips's significant trades, within a strike price range of $125.0 to $160.0, over the past month.
ConocoPhillips Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COP | CALL | SWEEP | BULLISH | 12/20/24 | $11.65 | $11.45 | $11.65 | $135.00 | $131.6K | 501 | 120 |
| COP | PUT | SWEEP | BEARISH | 01/17/25 | $14.55 | $13.65 | $14.6 | $140.00 | $115.3K | 220 | 121 |
| COP | PUT | SWEEP | BEARISH | 09/20/24 | $9.45 | $9.35 | $9.45 | $135.00 | $81.2K | 480 | 91 |
| COP | CALL | TRADE | BULLISH | 05/17/24 | $6.3 | $6.15 | $6.3 | $130.00 | $63.0K | 6.0K | 56 |
| COP | CALL | SWEEP | BULLISH | 05/17/24 | $3.4 | $3.35 | $3.4 | $135.00 | $34.0K | 2.4K | 195 |
About ConocoPhillips
ConocoPhillips is a U.S.-based independent exploration and production firm. In 2022, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2022 were 6.6 billion barrels of oil equivalent.
After a thorough review of the options trading surrounding ConocoPhillips, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of ConocoPhillips
- With a trading volume of 2,534,386, the price of COP is down by -0.22%, reaching $131.96.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 22 days from now.
Expert Opinions on ConocoPhillips
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $141.6.
- An analyst from Barclays downgraded its action to Overweight with a price target of $158.
- An analyst from Mizuho downgraded its action to Neutral with a price target of $139.
- An analyst from Wells Fargo persists with their Overweight rating on ConocoPhillips, maintaining a target price of $149.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for ConocoPhillips, targeting a price of $133.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for ConocoPhillips, targeting a price of $129.
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 ConocoPhillips options trades with real-time alerts from Benzinga Pro.
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