Financial giants have made a conspicuous bullish move on BP. Our analysis of options history for BP BP revealed 12 unusual trades.
Delving into the details, we found 41% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $662,350, and 4 were calls, valued at $348,840.
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 $25.0 to $45.0 for BP 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 BP's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to BP's substantial trades, within a strike price spectrum from $25.0 to $45.0 over the preceding 30 days.
BP 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| 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 | $12.9 | $12.85 | $12.9 | $42.00 | $223.1K | 1.2K | 173 |
| BP | PUT | TRADE | BEARISH | 01/16/26 | $11.4 | $11.35 | $11.4 | $40.00 | $176.7K | 1.2K | 155 |
| BP | CALL | TRADE | BEARISH | 12/18/26 | $6.0 | $5.65 | $5.65 | $25.00 | $161.5K | 961 | 286 |
| BP | CALL | TRADE | NEUTRAL | 12/20/24 | $4.3 | $4.2 | $4.25 | $25.00 | $106.2K | 3.8K | 511 |
| BP | PUT | SWEEP | BULLISH | 12/20/24 | $1.39 | $1.38 | $1.39 | $30.00 | $66.0K | 6.5K | 1.1K |
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.
Having examined the options trading patterns of BP, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
BP's Current Market Status
- Trading volume stands at 2,282,868, with BP's price down by -2.52%, positioned at $29.06.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 88 days.
Expert Opinions on BP
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $34.5.
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 Wells Fargo has decided to maintain their Equal-Weight rating on BP, which currently sits at a price target of $33. * 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.
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