Benzinga's options scanner just detected over 10 options trades for Occidental Petroleum OXY summing a total amount of $388,993.
At the same time, our algo caught 5 for a total amount of 192,595.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $65.0 for Occidental Petroleum, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Occidental Petroleum stands at 5581.4, with a total volume reaching 2,341.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Occidental Petroleum, situated within the strike price corridor from $50.0 to $65.0, throughout the last 30 days.
Occidental Petroleum Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OXY | CALL | SWEEP | BEARISH | 06/21/24 | $65.00 | $112.1K | 8.1K | 710 |
| OXY | CALL | SWEEP | BULLISH | 06/20/25 | $60.00 | $109.0K | 862 | 140 |
| OXY | PUT | TRADE | BULLISH | 01/17/25 | $62.50 | $73.9K | 2.6K | 0 |
| OXY | CALL | SWEEP | BULLISH | 02/16/24 | $61.00 | $34.2K | 1.3K | 605 |
| OXY | PUT | SWEEP | BULLISH | 03/15/24 | $55.00 | $34.1K | 8.1K | 367 |
About Occidental Petroleum
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2022, the company reported net proved reserves of 3.8 billion barrels of oil equivalent. Net production averaged 1,159 thousand barrels of oil equivalent per day in 2022 at a ratio of 75% oil and natural gas liquids and 25% natural gas.
Having examined the options trading patterns of Occidental Petroleum, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Occidental Petroleum
- Trading volume stands at 2,384,607, with OXY's price down by 0.0%, positioned at $58.4.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 16 days.
What Analysts Are Saying About Occidental Petroleum
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $65.5.
- An analyst from Raymond James has decided to maintain their Strong Buy rating on Occidental Petroleum, which currently sits at a price target of $68.
- An analyst from Mizuho has revised its rating downward to Neutral, adjusting the price target to $63.
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 Occidental Petroleum with Benzinga Pro for real-time alerts.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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