Deep-pocketed investors have adopted a bearish approach towards Schlumberger SLB, 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 SLB usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Schlumberger. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 10% leaning bullish and 90% bearish. Among these notable options, 3 are puts, totaling $187,604, and 7 are calls, amounting to $491,115.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $45.0 to $52.5 for Schlumberger over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Schlumberger stands at 915.8, with a total volume reaching 1,381.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Schlumberger, situated within the strike price corridor from $45.0 to $52.5, throughout the last 30 days.
Schlumberger Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SLB | CALL | SWEEP | BEARISH | 08/16/24 | $45.00 | $101.1K | 24 | 279 |
| SLB | CALL | SWEEP | BEARISH | 08/16/24 | $47.50 | $88.2K | 32 | 1 |
| SLB | CALL | SWEEP | BEARISH | 06/21/24 | $45.00 | $85.8K | 118 | 0 |
| SLB | PUT | SWEEP | BULLISH | 03/15/24 | $52.50 | $85.5K | 2.7K | 301 |
| SLB | PUT | SWEEP | BEARISH | 01/17/25 | $52.50 | $76.0K | 1.6K | 147 |
About Schlumberger
SLB, formerly known as Schlumberger, is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions. It maintains a reputation as one of the industry's leading innovators, which has earned it dominant share in numerous end markets.
After a thorough review of the options trading surrounding Schlumberger, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Schlumberger
- Trading volume stands at 689,197, with SLB's price up by 0.6%, positioned at $50.72.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 86 days.
What Analysts Are Saying About Schlumberger
5 market experts have recently issued ratings for this stock, with a consensus target price of $70.2.
- An analyst from Susquehanna persists with their Positive rating on Schlumberger, maintaining a target price of $77.
- An analyst from Stifel has decided to maintain their Buy rating on Schlumberger, which currently sits at a price target of $64.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Schlumberger with a target price of $74.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $66.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Schlumberger, which currently sits at a price target of $70.
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 Schlumberger options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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