High-rolling investors have positioned themselves bearish on Permian Resources PR, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in PR often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Permian Resources. This is not a typical pattern.
The sentiment among these major traders is split, with 40% bullish and 60% bearish. Among all the options we identified, there was one put, amounting to $65,560, and 9 calls, totaling $3,271,210.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $20.0 for Permian Resources over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Permian Resources stands at 1842.0, with a total volume reaching 46,063.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Permian Resources, situated within the strike price corridor from $15.0 to $20.0, throughout the last 30 days.
Permian Resources 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PR | CALL | SWEEP | BEARISH | 01/17/25 | $1.05 | $1.0 | $0.95 | $20.00 | $1.6M | 1.1K | 3.0K |
| PR | CALL | TRADE | BEARISH | 01/17/25 | $1.1 | $1.0 | $1.0 | $20.00 | $840.0K | 1.1K | 18.4K |
| PR | CALL | TRADE | BEARISH | 01/17/25 | $1.1 | $1.0 | $0.95 | $20.00 | $532.0K | 1.1K | 17.6K |
| PR | PUT | SWEEP | BEARISH | 01/17/25 | $1.15 | $1.05 | $1.1 | $15.00 | $65.5K | 2.5K | 57 |
| PR | CALL | SWEEP | BULLISH | 01/17/25 | $1.0 | $0.95 | $1.0 | $20.00 | $50.0K | 1.1K | 2.5K |
About Permian Resources
Permian Resources Corp is an independent oil and natural gas company focused on generating outsized returns to stakeholders through the responsible acquisition, optimization and development of oil and liquids-rich natural gas assets. The Company's assets and operations are primarily concentrated in the core of the Permian Basin, and its properties consist of large, contiguous acreage blocks located in West Texas and New Mexico.
Having examined the options trading patterns of Permian Resources, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Permian Resources
- Trading volume stands at 2,576,196, with PR's price up by 0.73%, positioned at $17.3.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 14 days.
What The Experts Say On Permian Resources
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.4.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Permian Resources with a target price of $23.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Neutral rating for Permian Resources, targeting a price of $18.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Permian Resources, targeting a price of $20.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Permian Resources with a target price of $21.
- An analyst from Mizuho has decided to maintain their Buy rating on Permian Resources, which currently sits at a price target of $20.
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 Permian Resources 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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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