Whales with a lot of money to spend have taken a noticeably bearish stance on BP.
Looking at options history for BP BP we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $330,145 and 4, calls, for a total amount of $183,963.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $29.0 to $40.0 for BP over the last 3 months.
Insights into Volume & Open Interest
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 BP'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 BP's whale trades within a strike price range from $29.0 to $40.0 in the last 30 days.
BP Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BP | PUT | SWEEP | BEARISH | 06/20/25 | $7.2 | $6.95 | $7.2 | $37.00 | $110.8K | 1.3K | 220 |
| BP | PUT | TRADE | BEARISH | 12/20/24 | $3.7 | $3.65 | $3.7 | $34.00 | $89.5K | 33 | 242 |
| BP | PUT | TRADE | BEARISH | 12/20/24 | $3.75 | $3.7 | $3.75 | $34.00 | $83.2K | 33 | 464 |
| BP | CALL | TRADE | BEARISH | 12/18/26 | $1.38 | $1.25 | $1.28 | $40.00 | $64.1K | 4.1K | 2 |
| BP | CALL | TRADE | BULLISH | 12/18/26 | $1.28 | $1.27 | $1.28 | $40.00 | $64.0K | 4.1K | 1.0K |
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 2023, reserves stood at 6.8 billion barrels of oil equivalent, 55% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.
Following our analysis of the options activities associated with BP, we pivot to a closer look at the company's own performance.
Present Market Standing of BP
- Currently trading with a volume of 3,245,998, the BP's price is down by -2.17%, now at $30.84.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 1 days.
What Analysts Are Saying About BP
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $36.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from Scotiabank lowers its rating to Sector Perform with a new price target of $36.
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
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
