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 8 trades.
If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 25% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $280,364 and 4, calls, for a total amount of $296,524.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $27.5 to $57.5 for Occidental Petroleum over the recent three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Occidental Petroleum stands at 1376.33, with a total volume reaching 2,347.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Occidental Petroleum, situated within the strike price corridor from $27.5 to $57.5, throughout the last 30 days.
Occidental Petroleum Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | PUT | TRADE | NEUTRAL | 02/21/25 | $9.65 | $9.5 | $9.57 | $57.50 | $156.9K | 1.7K | 200 |
| OXY | CALL | SWEEP | BULLISH | 02/21/25 | $1.74 | $1.72 | $1.73 | $50.00 | $111.4K | 4.0K | 720 |
| OXY | CALL | SWEEP | BULLISH | 01/15/27 | $22.5 | $22.1 | $22.2 | $27.50 | $78.6K | 168 | 33 |
| OXY | CALL | SWEEP | BULLISH | 02/21/25 | $1.97 | $1.94 | $1.97 | $50.00 | $77.6K | 4.0K | 1.2K |
| OXY | PUT | TRADE | BEARISH | 06/18/26 | $5.55 | $3.1 | $5.45 | $47.50 | $54.5K | 2 | 100 |
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.
Present Market Standing of Occidental Petroleum
- Currently trading with a volume of 3,494,470, the OXY's price is up by 0.07%, now at $48.53.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 64 days.
What Analysts Are Saying About Occidental Petroleum
In the last month, 5 experts released ratings on this stock with an average target price of $63.6.
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 UBS has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $51. * Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Occidental Petroleum, targeting a price of $65. * An analyst from Raymond James persists with their Strong Buy rating on Occidental Petroleum, maintaining a target price of $78. * An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $53. * An analyst from Stephens & Co. persists with their Overweight rating on Occidental Petroleum, maintaining a target price of $71.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Occidental Petroleum options trades with real-time alerts from Benzinga Pro.
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