Spotlight on Hess: Analyzing the Surge in Options Activity

Deep-pocketed investors have adopted a bearish approach towards Hess HES, 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 HES 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 Hess. 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, 2 are puts, totaling $169,500, and 8 are calls, amounting to $672,050.

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What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $110.0 to $150.0 for Hess over the recent three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Hess options trades today is 908.5 with a total volume of 2,992.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Hess's big money trades within a strike price range of $110.0 to $150.0 over the last 30 days.

Hess Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Hess

Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2022, the company reported net proved reserves of 1.3 billion barrels of oil equivalent. Net production averaged 344 thousand barrels of oil equivalent per day in 2022, at a ratio of 72% oil and natural gas liquids and 28% natural gas.

After a thorough review of the options trading surrounding Hess, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Hess's Current Market Status

• Currently trading with a volume of 3,425,227, the HES's price is up by 0.25%, now at $146.64.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 75 days.

Expert Opinions on Hess

1 market experts have recently issued ratings for this stock, with a consensus target price of $152.0.

• An analyst from Susquehanna persists with their Neutral rating on Hess, maintaining a target price of $152.

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