Diamondback Energy's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish stance on Diamondback Energy FANG.

And retail traders should know.

We noticed this today when the positions 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 FANG, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Diamondback Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $42,979, and 7, calls, for a total amount of $285,930.

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Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $46.51 to $175.0 for Diamondback Energy over the recent three months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Diamondback Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Diamondback Energy's substantial trades, within a strike price spectrum from $46.51 to $175.0 over the preceding 30 days.

Diamondback Energy Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About Diamondback Energy

Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2022, the company reported net proven reserves of 2 billion barrels of oil equivalent. Net production averaged about 386,000 barrels per day in 2022, at a ratio of 58% oil, 21% natural gas liquids, and 21% natural gas.

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

Current Position of Diamondback Energy

• With a volume of 532,751, the price of FANG is down -0.01% at $149.73.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 32 days.

Expert Opinions on Diamondback Energy

In the last month, 2 experts released ratings on this stock with an average target price of $173.5.

• Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Diamondback Energy, targeting a price of $170.
• An analyst from Mizuho has decided to maintain their Buy rating on Diamondback Energy, which currently sits at a price target of $177.

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 Diamondback Energy options trades with real-time alerts from Benzinga Pro.