Investors with a lot of money to spend have taken a bearish stance on Petrobras Brasileiro PBR.
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 PBR, 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 8 uncommon options trades for Petrobras Brasileiro.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 62%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $187,469, and 5 are calls, for a total amount of $307,000.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $3.0 and $15.0 for Petrobras Brasileiro, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Petrobras Brasileiro's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Petrobras Brasileiro's whale trades within a strike price range from $3.0 to $15.0 in the last 30 days.
Petrobras Brasileiro 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PBR | CALL | TRADE | BEARISH | 11/15/24 | $0.52 | $0.5 | $0.5 | $15.00 | $75.0K | 10.0K | 1.5K |
| PBR | PUT | TRADE | BULLISH | 01/16/26 | $1.73 | $1.7 | $1.7 | $13.00 | $74.4K | 7.7K | 438 |
| PBR | PUT | SWEEP | BEARISH | 01/16/26 | $1.7 | $1.49 | $1.7 | $13.00 | $68.4K | 7.7K | 1.4K |
| PBR | CALL | TRADE | NEUTRAL | 12/20/24 | $11.8 | $11.35 | $11.6 | $3.00 | $58.0K | 58 | 250 |
| PBR | CALL | TRADE | BEARISH | 12/20/24 | $13.05 | $11.6 | $11.6 | $3.00 | $58.0K | 58 | 200 |
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.
Following our analysis of the options activities associated with Petrobras Brasileiro, we pivot to a closer look at the company's own performance.
Current Position of Petrobras Brasileiro
- Currently trading with a volume of 4,923,147, the PBR's price is up by 0.34%, now at $14.61.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 41 days.
What The Experts Say On Petrobras Brasileiro
In the last month, 1 experts released ratings on this stock with an average target price of $19.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from JP Morgan has elevated its stance to Overweight, setting a new price target at $19.
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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