Investors with a lot of money to spend have taken a bearish stance on BP BP.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with BP, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for BP.
This isn't normal.
The overall sentiment of these big-money traders is split between 12% bullish and 87%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $422,556, and there was 1 call, for a total amount of $30,450.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $33.0 and $45.0 for BP, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of BP stands at 727.17, with a total volume reaching 2,115.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in BP, situated within the strike price corridor from $33.0 to $45.0, throughout the last 30 days.
BP Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BP | PUT | SWEEP | BULLISH | 06/20/25 | $8.4 | $8.3 | $8.3 | $45.00 | $191.7K | 77 | 10 |
| BP | PUT | TRADE | BEARISH | 10/18/24 | $5.15 | $4.1 | $5.15 | $42.00 | $74.6K | 1.1K | 0 |
| BP | PUT | SWEEP | BEARISH | 08/02/24 | $0.5 | $0.48 | $0.5 | $36.00 | $38.5K | 321 | 611 |
| BP | PUT | TRADE | BEARISH | 08/16/24 | $1.03 | $0.99 | $1.03 | $37.00 | $32.9K | 1.4K | 50 |
| BP | CALL | SWEEP | BEARISH | 06/20/25 | $4.45 | $4.3 | $4.35 | $35.00 | $30.4K | 241 | 0 |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.
In light of the recent options history for BP, it's now appropriate to focus on the company itself. We aim to explore its current performance.
BP's Current Market Status
- With a volume of 1,324,942, the price of BP is up 0.14% at $37.02.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 25 days.
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 BP with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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