Investors with a lot of money to spend have taken a bearish stance on Occidental Petroleum OXY.
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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with OXY, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Occidental Petroleum.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 54%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $167,532, and 8 are calls, for a total amount of $429,080.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $52.5 to $75.0 for Occidental Petroleum during the past quarter.
Insights into 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 Occidental Petroleum's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Occidental Petroleum's substantial trades, within a strike price spectrum from $52.5 to $75.0 over the preceding 30 days.
Occidental Petroleum Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | CALL | TRADE | BULLISH | 11/15/24 | $1.78 | $1.77 | $1.78 | $62.50 | $122.8K | 13.1K | 717 |
| OXY | CALL | SWEEP | BEARISH | 12/20/24 | $8.1 | $8.0 | $8.0 | $52.50 | $102.4K | 646 | 1 |
| OXY | PUT | SWEEP | NEUTRAL | 08/30/24 | $4.6 | $4.4 | $4.49 | $63.00 | $87.2K | 1.4K | 194 |
| OXY | CALL | TRADE | BEARISH | 01/17/25 | $1.77 | $1.74 | $1.75 | $65.00 | $43.7K | 14.1K | 475 |
| OXY | CALL | TRADE | BULLISH | 01/17/25 | $1.76 | $1.7 | $1.74 | $65.00 | $41.5K | 14.1K | 990 |
About Occidental Petroleum
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.
Current Position of Occidental Petroleum
- With a volume of 1,989,202, the price of OXY is up 0.68% at $58.81.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 85 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 Occidental Petroleum with Benzinga Pro for real-time alerts.
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