Deep-pocketed investors have adopted a bullish approach towards Petrobras Brasileiro PBR, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PBR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Petrobras Brasileiro. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 8 are puts, totaling $1,156,763, and 4 are calls, amounting to $325,402.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.0 to $20.0 for Petrobras Brasileiro over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Petrobras Brasileiro options trades today is 17092.2 with a total volume of 6,320.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Petrobras Brasileiro's big money trades within a strike price range of $12.0 to $20.0 over the last 30 days.
Petrobras Brasileiro 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PBR | PUT | SWEEP | BEARISH | 01/17/25 | $5.85 | $5.15 | $5.4 | $20.00 | $273.2K | 35.1K | 2.0K |
| PBR | PUT | SWEEP | BEARISH | 01/17/25 | $5.95 | $5.4 | $5.4 | $20.00 | $273.2K | 35.1K | 513 |
| PBR | PUT | TRADE | BULLISH | 01/17/25 | $5.9 | $5.4 | $5.4 | $20.00 | $266.7K | 35.1K | 1.0K |
| PBR | CALL | TRADE | BEARISH | 01/16/26 | $2.5 | $2.1 | $2.1 | $15.00 | $189.0K | 10.6K | 320 |
| PBR | PUT | SWEEP | BEARISH | 01/17/25 | $5.4 | $5.25 | $5.4 | $20.00 | $147.4K | 35.1K | 433 |
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.
Following our analysis of the options activities associated with Petrobras Brasileiro, we pivot to a closer look at the company's own performance.
Current Position of Petrobras Brasileiro
- With a trading volume of 4,701,251, the price of PBR is up by 1.09%, reaching $16.65.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 18 days from now.
What The Experts Say On Petrobras Brasileiro
2 market experts have recently issued ratings for this stock, with a consensus target price of $17.7.
- An analyst from HSBC has elevated its stance to Buy, setting a new price target at $18.
- An analyst from UBS has decided to maintain their Buy rating on Petrobras Brasileiro, which currently sits at a price target of $17.
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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