Whales with a lot of money to spend have taken a noticeably bullish stance on Petrobras Brasileiro.
Looking at options history for Petrobras Brasileiro PBR we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 77% of the investors opened trades with bullish expectations and 11% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $3,360,701 and 3, calls, for a total amount of $250,000.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $30.0 for Petrobras Brasileiro during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Petrobras Brasileiro options trades today is 1410.0 with a total volume of 549.00.
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 $5.0 to $30.0 over the last 30 days.
Petrobras Brasileiro Option Volume And Open Interest Over Last 30 Days
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 | BULLISH | 09/20/24 | $17.15 | $15.2 | $15.2 | $30.00 | $1.3M | 1.3K | 0 |
| PBR | PUT | TRADE | BULLISH | 09/20/24 | $12.2 | $10.25 | $10.25 | $25.00 | $927.6K | 4.9K | 0 |
| PBR | PUT | TRADE | BULLISH | 09/20/24 | $10.2 | $8.3 | $8.3 | $23.00 | $751.1K | 0 | 0 |
| PBR | CALL | TRADE | BULLISH | 08/09/24 | $10.0 | $9.0 | $10.0 | $5.00 | $150.0K | 250 | 50 |
| PBR | PUT | TRADE | BULLISH | 09/20/24 | $9.5 | $7.3 | $7.3 | $22.00 | $138.7K | 0 | 190 |
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.
In light of the recent options history for Petrobras Brasileiro, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Petrobras Brasileiro
- Currently trading with a volume of 4,852,874, the PBR's price is down by -1.06%, now at $14.97.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 21 days.
Professional Analyst Ratings for Petrobras Brasileiro
1 market experts have recently issued ratings for this stock, with a consensus target price of $17.9.
- An analyst from B of A Securities upgraded its action to Buy with a price target of $17.
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 Petrobras Brasileiro, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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