27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Deep-pocketed investors have adopted a bearish approach towards Occidental Petroleum (NYSE:OXY), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 66% bearish. Among these notable options, 3 are puts, totaling $117,210, and 6 are calls, amounting to $316,311.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $85.0 for Occidental Petroleum during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Occidental Petroleum'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 Occidental Petroleum's whale activity within a strike price range from $60.0 to $85.0 in the last 30 days.
Occidental Petroleum Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | CALL | TRADE | BEARISH | 01/16/26 | $10.8 | $10.6 | $10.6 | $70.00 | $106.0K | 1.7K | 0 |
| OXY | CALL | TRADE | NEUTRAL | 05/17/24 | $6.9 | $5.4 | $6.2 | $62.50 | $62.0K | 9.0K | 100 |
| OXY | CALL | SWEEP | BULLISH | 08/16/24 | $4.1 | $4.05 | $4.1 | $67.50 | $54.1K | 7.0K | 56 |
| OXY | PUT | TRADE | BEARISH | 06/20/25 | $4.25 | $4.2 | $4.25 | $60.00 | $42.5K | 3.1K | 343 |
| OXY | PUT | SWEEP | BULLISH | 06/20/25 | $4.35 | $4.15 | $4.15 | $60.00 | $41.5K | 3.1K | 243 |
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.
After a thorough review of the options trading surrounding Occidental Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Occidental Petroleum
- With a volume of 4,703,062, the price of OXY is down -3.12% at $66.21.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 21 days.
Expert Opinions on Occidental Petroleum
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $77.0.
- An analyst from Scotiabank upgraded its action to Sector Outperform with a price target of $90.
- Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Occidental Petroleum with a target price of $69.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Occidental Petroleum, which currently sits at a price target of $72.
- An analyst from Mizuho has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $70.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Occidental Petroleum with a target price of $84.
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.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!