Check Out What Whales Are Doing With MPC

Deep-pocketed investors have adopted a bearish approach towards Marathon Petroleum MPC, 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 MPC usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Marathon Petroleum. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 25% leaning bullish and 75% bearish. Among these notable options, 2 are puts, totaling $194,710, and 6 are calls, amounting to $1,288,105.

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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 $125.0 to $185.0 for Marathon Petroleum during the past quarter.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Marathon 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 Marathon Petroleum's whale trades within a strike price range from $125.0 to $185.0 in the last 30 days.

Marathon Petroleum 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Marathon Petroleum

Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 2.9 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.

Following our analysis of the options activities associated with Marathon Petroleum, we pivot to a closer look at the company's own performance.

Marathon Petroleum's Current Market Status

• Currently trading with a volume of 1,328,956, the MPC's price is down by -0.1%, now at $151.85.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 12 days.

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 Marathon Petroleum, Benzinga Pro gives you real-time options trades alerts.