This Is What Whales Are Betting On ConocoPhillips

Deep-pocketed investors have adopted a bullish approach towards ConocoPhillips COP, 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 COP 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 ConocoPhillips. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 6 are puts, totaling $1,119,355, and 3 are calls, amounting to $117,575.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $90.0 and $109.0 for ConocoPhillips, spanning the last three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for ConocoPhillips's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across ConocoPhillips's significant trades, within a strike price range of $90.0 to $109.0, over the past month.

ConocoPhillips Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About ConocoPhillips

ConocoPhillips is a U.S.-based independent exploration and production firm. In 2022, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2022 were 6.6 billion barrels of oil equivalent.

Present Market Standing of ConocoPhillips

• With a volume of 2,432,242, the price of COP is up 0.75% at $108.8.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 15 days.

What Analysts Are Saying About ConocoPhillips

2 market experts have recently issued ratings for this stock, with a consensus target price of $136.0.

• An analyst from Mizuho has decided to maintain their Neutral rating on ConocoPhillips, which currently sits at a price target of $132.
• Consistent in their evaluation, an analyst from Raymond James keeps a Strong Buy rating on ConocoPhillips with a target price of $140.

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 ConocoPhillips options trades with real-time alerts from Benzinga Pro.