What the Options Market Tells Us About EOG Resources

Investors with a lot of money to spend have taken a bearish stance on EOG Resources EOG.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with EOG, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for EOG Resources.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $72,690, and 6 are calls, for a total amount of $280,140.

Latest Startup Investment Opportunities:

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 $145.0 for EOG Resources, spanning the last three months.

Analyzing 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 EOG Resources's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across EOG Resources's significant trades, within a strike price range of $90.0 to $145.0, over the past month.

EOG Resources Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About EOG Resources

EOG Resources is an oil and gas producer with acreage in several U.S. shale plays, including the Permian Basin, the Eagle Ford, and the Bakken. At the end of 2022, it reported net proved reserves of 4.2 billion barrels of oil equivalent. Net production averaged 908 thousand barrels of oil equivalent per day in 2022 at a ratio of 73% oil and natural gas liquids and 27% natural gas.

Current Position of EOG Resources

• With a trading volume of 2,016,637, the price of EOG is up by 1.01%, reaching $114.27.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 1 days from now.

Professional Analyst Ratings for EOG Resources

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $152.0.

• An analyst from Raymond James persists with their Strong Buy rating on EOG Resources, maintaining a target price of $145.
• An analyst from Susquehanna persists with their Positive rating on EOG Resources, maintaining a target price of $147.
• An analyst from Stifel has decided to maintain their Buy rating on EOG Resources, which currently sits at a price target of $163.
• An analyst from Piper Sandler persists with their Overweight rating on EOG Resources, maintaining a target price of $153.

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 EOG Resources with Benzinga Pro for real-time alerts.