Whales with a lot of money to spend have taken a noticeably bearish stance on APA.
Looking at options history for APA APA we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $499,909 and 8, calls, for a total amount of $350,941.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $27.5 to $42.5 for APA over the recent three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in APA's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to APA's substantial trades, within a strike price spectrum from $27.5 to $42.5 over the preceding 30 days.
APA 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| APA | PUT | SWEEP | BULLISH | 05/10/24 | $1.21 | $1.2 | $1.2 | $31.00 | $124.1K | 26.3K | 2.0K |
| APA | PUT | TRADE | NEUTRAL | 05/17/24 | $0.99 | $0.97 | $0.98 | $31.00 | $117.6K | 721 | 1.2K |
| APA | CALL | SWEEP | BEARISH | 05/03/24 | $0.36 | $0.35 | $0.35 | $32.00 | $78.5K | 779 | 2.1K |
| APA | CALL | TRADE | BEARISH | 12/20/24 | $0.66 | $0.62 | $0.63 | $42.50 | $63.0K | 1.1K | 1.0K |
| APA | PUT | SWEEP | BULLISH | 05/10/24 | $1.16 | $1.15 | $1.15 | $31.00 | $57.5K | 26.3K | 2.0K |
About APA
Based in Houston, APA is an independent exploration and production company. It operates primarily in the US, Egypt, the North Sea, and Suriname. At year-end 2023, proved reserves totaled 807 million barrels of oil equivalent, with net reported production of 405 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).
Where Is APA Standing Right Now?
- Currently trading with a volume of 4,082,040, the APA's price is down by -3.12%, now at $30.46.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 0 days.
Expert Opinions on APA
In the last month, 5 experts released ratings on this stock with an average target price of $42.0.
- An analyst from Piper Sandler persists with their Neutral rating on APA, maintaining a target price of $35.
- An analyst from Susquehanna has decided to maintain their Positive rating on APA, which currently sits at a price target of $54.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for APA, targeting a price of $53.
- An analyst from Barclays downgraded its action to Equal-Weight with a price target of $40.
- Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Underweight with a new price target of $28.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for APA, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
