Whales with a lot of money to spend have taken a noticeably bearish stance on BP.
Looking at options history for BP BP we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $1,070,440 and 8, calls, for a total amount of $402,946.
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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 $28.0 to $50.0 for BP over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of BP stands at 1127.89, with a total volume reaching 2,339.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in BP, situated within the strike price corridor from $28.0 to $50.0, throughout the last 30 days.
BP Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BP | PUT | SWEEP | BULLISH | 06/21/24 | $45.00 | $504.6K | 67 | 0 |
| BP | PUT | TRADE | BULLISH | 01/16/26 | $45.00 | $390.9K | 1.7K | 314 |
| BP | CALL | TRADE | BEARISH | 01/16/26 | $28.00 | $80.0K | 695 | 265 |
| BP | CALL | TRADE | BEARISH | 01/16/26 | $28.00 | $80.0K | 695 | 165 |
| BP | PUT | TRADE | BULLISH | 02/16/24 | $37.00 | $54.7K | 1.0K | 161 |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day. BP also holds a 20% ownership interest in Rosneft, which it plans to exit.
Current Position of BP
- Currently trading with a volume of 4,612,703, the BP's price is up by 0.38%, now at $33.98.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 15 days.
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 BP with Benzinga Pro for real-time alerts.
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