EOG Resources's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish stance on EOG Resources EOG.

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 EOG, 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 EOG Resources.

This isn't normal.

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

Out of all of the special options we uncovered, 3 are puts, for a total amount of $375,040, and 5 are calls, for a total amount of $318,988.

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 $110.0 and $170.0 for EOG Resources, spanning the last three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for EOG Resources's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across EOG Resources's significant trades, within a strike price range of $110.0 to $170.0, over the past month.

EOG Resources Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About EOG Resources

EOG Resources is an oil and gas producer with acreage in several US shale plays, primarily in the Permian Basin and the Eagle Ford. At the end of 2023, it reported net proven reserves of 4.5 billion barrels of oil equivalent. Net production averaged roughly 985,000 barrels of oil equivalent per day in 2023 at a ratio of 71% oil and natural gas liquids and 29% natural gas.

After a thorough review of the options trading surrounding EOG Resources, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is EOG Resources Standing Right Now?

• Trading volume stands at 958,023, with EOG's price up by 0.88%, positioned at $130.16.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 13 days.

Expert Opinions on EOG Resources

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $158.0.

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. * An analyst from Raymond James has decided to maintain their Strong Buy rating on EOG Resources, which currently sits at a price target of $175. * Consistent in their evaluation, an analyst from Piper Sandler keeps a Neutral rating on EOG Resources with a target price of $141.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for EOG Resources, Benzinga Pro gives you real-time options trades alerts.