Investors with significant funds have taken a bullish position in Petrobras Brasileiro PBR, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in PBR usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Petrobras Brasileiro. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 62% being bullish and 25% bearish. Of all the options we discovered, 7 are puts, valued at $651,189, and there was a single call, worth $79,040.
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 $17.0 for Petrobras Brasileiro over the recent three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Petrobras Brasileiro's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Petrobras Brasileiro's substantial trades, within a strike price spectrum from $12.0 to $17.0 over the preceding 30 days.
Petrobras Brasileiro Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PBR | PUT | TRADE | NEUTRAL | 01/16/26 | $2.12 | $1.82 | $1.98 | $13.00 | $198.0K | 925 | 1.0K |
| PBR | PUT | SWEEP | BULLISH | 01/16/26 | $4.5 | $4.4 | $4.4 | $17.00 | $131.5K | 252 | 526 |
| PBR | PUT | TRADE | BULLISH | 07/19/24 | $0.84 | $0.81 | $0.81 | $15.00 | $114.5K | 32.1K | 1.5K |
| PBR | PUT | SWEEP | BULLISH | 01/16/26 | $4.3 | $4.25 | $4.25 | $17.00 | $86.2K | 252 | 205 |
| PBR | CALL | SWEEP | BULLISH | 01/16/26 | $2.6 | $2.46 | $2.6 | $13.00 | $79.0K | 4.8K | 304 |
About Petrobras Brasileiro
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production of oil and gas in Brazilian offshore fields. Production in 2023 was 2.8 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.9 billion boe (85% oil). At end-2023, Petrobras operated 10 refineries in Brazil with capacity of 1.8 million barrels a day and distributes refined products and natural gas throughout Brazil.
After a thorough review of the options trading surrounding Petrobras Brasileiro, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Petrobras Brasileiro Standing Right Now?
- With a volume of 9,535,850, the price of PBR is down -2.44% at $14.8.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 55 days.
What Analysts Are Saying About Petrobras Brasileiro
1 market experts have recently issued ratings for this stock, with a consensus target price of $17.7.
- An analyst from Jefferies downgraded its action to Hold with a price target of $17.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Petrobras Brasileiro with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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