This Is What Whales Are Betting On Schlumberger

Investors with a lot of money to spend have taken a bearish stance on Schlumberger SLB.

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 SLB, 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 Schlumberger.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $53,865, and 6 are calls, for a total amount of $222,327.

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 $37.5 to $57.5 for Schlumberger during the past quarter.

Volume & Open Interest Trends

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 Schlumberger'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 Schlumberger's whale trades within a strike price range from $37.5 to $57.5 in the last 30 days.

Schlumberger Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Schlumberger

SLB is the world's premier oilfield-services company as measured by market share. While the industry is mostly fragmented, SLB holds the first or second competitive position in many of the differentiated oligopolies it operates in. Also known as Schlumberger, the company was founded in 1926 by two brothers bearing the same last name. Today it's most known as a global industry leader in innovation, while it focuses its strategy on its three growth engines: its core, digital, and new energy businesses. Over three fourths of its revenue base is tied to international markets, while the company boasts well over $1 billion in digital-related revenue.

In light of the recent options history for Schlumberger, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Schlumberger Standing Right Now?

• With a trading volume of 5,976,370, the price of SLB is down by -2.38%, reaching $40.41.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 80 days from now.

What Analysts Are Saying About Schlumberger

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $60.4.

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. * Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Schlumberger, targeting a price of $65. * An analyst from Citigroup persists with their Buy rating on Schlumberger, maintaining a target price of $54. * An analyst from Barclays has decided to maintain their Overweight rating on Schlumberger, which currently sits at a price target of $63. * Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Schlumberger with a target price of $60. * Reflecting concerns, an analyst from Stifel lowers its rating to Buy with a new price target of $60.

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 Schlumberger with Benzinga Pro for real-time alerts.