Investors with a lot of money to spend have taken a bullish stance on Marathon Petroleum MPC.
And retail traders should know.
We noticed this today when the positions 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 MPC, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Marathon Petroleum.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $47,750, and 7, calls, for a total amount of $1,129,200.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $130.0 to $200.0 for Marathon Petroleum over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Marathon Petroleum's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Marathon Petroleum's whale trades within a strike price range from $130.0 to $200.0 in the last 30 days.
Marathon Petroleum Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MPC | CALL | SWEEP | NEUTRAL | 10/18/24 | $190.00 | $750.0K | 9 | 456 |
| MPC | CALL | TRADE | BULLISH | 10/18/24 | $190.00 | $112.7K | 9 | 1.1K |
| MPC | CALL | SWEEP | BEARISH | 04/19/24 | $175.00 | $79.3K | 1.2K | 22 |
| MPC | CALL | TRADE | BULLISH | 09/20/24 | $200.00 | $54.5K | 84 | 50 |
| MPC | CALL | TRADE | BULLISH | 03/22/24 | $190.00 | $53.3K | 37 | 512 |
About Marathon Petroleum
Marathon Petroleum is an independent refiner with 13 refineries in the midcontinent, West Coast, and Gulf Coast of the United States with total throughput capacity of 3.0 million barrels per day. Its Dickinson, North Dakota, facility produces 184 million gallons a year of renewable diesel. Its Martinez, California, facility will have the ability to produce 730 million gallons a year of renewable diesel once converted. The firm also owns and operates midstream assets primarily through its listed master limited partnership, MPLX.
After a thorough review of the options trading surrounding Marathon Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Marathon Petroleum
- Trading volume stands at 767,584, with MPC's price up by 0.99%, positioned at $183.0.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 48 days.
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 Marathon Petroleum with Benzinga Pro for real-time alerts.
© 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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