This Is What Whales Are Betting On Occidental Petroleum

Whales with a lot of money to spend have taken a noticeably bullish stance on Occidental Petroleum.

Looking at options history for Occidental Petroleum OXY we detected 12 trades.

If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $56,200 and 10, calls, for a total amount of $829,567.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $55.0 for Occidental Petroleum, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Occidental Petroleum options trades today is 3501.89 with a total volume of 1,614.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Occidental Petroleum's big money trades within a strike price range of $45.0 to $55.0 over the last 30 days.

Occidental Petroleum 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

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

Where Is Occidental Petroleum Standing Right Now?

• With a volume of 2,215,874, the price of OXY is up 0.42% at $50.29.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 13 days.

Expert Opinions on Occidental Petroleum

5 market experts have recently issued ratings for this stock, with a consensus target price of $64.0.

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 Barclays persists with their Equal-Weight rating on Occidental Petroleum, maintaining a target price of $58. * In a cautious move, an analyst from Goldman Sachs downgraded its rating to Neutral, setting a price target of $55. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Occidental Petroleum, targeting a price of $65. * Maintaining their stance, an analyst from BMO Capital continues to hold a Market Perform rating for Occidental Petroleum, targeting a price of $65. * Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Occidental Petroleum with a target price of $77.

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.