What the Options Market Tells Us About ConocoPhillips

Whales with a lot of money to spend have taken a noticeably bullish stance on ConocoPhillips.

Looking at options history for ConocoPhillips COP we detected 12 trades.

If we consider the specifics of each trade, it is accurate to state that 75% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $107,360 and 10, calls, for a total amount of $822,285.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $105.0 to $135.0 for ConocoPhillips over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for ConocoPhillips'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 ConocoPhillips's whale activity within a strike price range from $105.0 to $135.0 in the last 30 days.

ConocoPhillips 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
COP CALL SWEEP BULLISH 04/19/24 $115.00 $267.4K 4.8K 237
COP CALL SWEEP BULLISH 06/20/25 $135.00 $109.6K 20 108
COP CALL SWEEP BULLISH 06/20/25 $135.00 $108.1K 20 214
COP PUT SWEEP BEARISH 06/20/25 $125.00 $80.8K 106 173
COP CALL SWEEP BULLISH 06/20/25 $135.00 $62.2K 20 214

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.

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

Present Market Standing of ConocoPhillips

  • Trading volume stands at 1,657,062, with COP's price down by -0.02%, positioned at $121.88.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 42 days.

Expert Opinions on ConocoPhillips

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $133.0.

  • Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for ConocoPhillips, targeting a price of $133.

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.

Market News and Data brought to you by Benzinga APIs
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Strike Price
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Sentiment
Posted In: OptionsMarketsBZI-UOA
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