Deep-pocketed investors have adopted a bullish approach towards APA APA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in APA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for APA. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $81,476, and 6 are calls, amounting to $362,529.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $22.5 to $32.5 for APA over the last 3 months.
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 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 $22.5 to $32.5 over the preceding 30 days.
APA 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| APA | CALL | SWEEP | BULLISH | 01/17/25 | $4.7 | $4.6 | $4.7 | $22.50 | $140.5K | 361 | 1 |
| APA | CALL | SWEEP | BULLISH | 01/17/25 | $1.74 | $1.72 | $1.74 | $27.50 | $87.0K | 1.2K | 500 |
| APA | PUT | SWEEP | BEARISH | 11/15/24 | $4.7 | $4.6 | $4.7 | $30.00 | $44.1K | 593 | 94 |
| APA | CALL | SWEEP | BULLISH | 12/20/24 | $4.45 | $4.35 | $4.45 | $22.50 | $41.8K | 15 | 95 |
| APA | PUT | SWEEP | BEARISH | 11/15/24 | $6.95 | $6.8 | $6.91 | $32.50 | $37.2K | 469 | 54 |
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).
In light of the recent options history for APA, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is APA Standing Right Now?
- With a volume of 11,589,962, the price of APA is up 0.95% at $26.14.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 55 days.
Expert Opinions on APA
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $42.75.
- An analyst from Piper Sandler has decided to maintain their Neutral rating on APA, which currently sits at a price target of $29.
- An analyst from Susquehanna has decided to maintain their Positive rating on APA, which currently sits at a price target of $52.
- An analyst from RBC Capital has revised its rating downward to Sector Perform, adjusting the price target to $41.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on APA, which currently sits at a price target of $49.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest APA options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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