Smart Money Is Betting Big In MRO Options

Investors with a lot of money to spend have taken a bullish stance on Marathon Oil MRO.

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 MRO, 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 Marathon Oil.

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 special options we uncovered, 2 are puts, for a total amount of $107,164, and 6 are calls, for a total amount of $347,772.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $30.0 for Marathon Oil over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Marathon Oil stands at 1260.0, with a total volume reaching 5,608.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Marathon Oil, situated within the strike price corridor from $20.0 to $30.0, throughout the last 30 days.

Marathon Oil Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Marathon Oil

Marathon is an independent exploration and production company primarily focusing on unconventional resources in the United States. At the end of 2022, the company reported net proved reserves of 1.3 billion barrels of oil equivalent. Net production averaged 343 thousand barrels of oil equivalent per day in 2022 at a ratio of 70% oil and NGLs and 30% natural gas.

In light of the recent options history for Marathon Oil, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Marathon Oil Standing Right Now?

• Trading volume stands at 8,993,768, with MRO's price up by 0.29%, positioned at $27.65.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 36 days.

Professional Analyst Ratings for Marathon Oil

In the last month, 5 experts released ratings on this stock with an average target price of $32.4.

• In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $33.
• An analyst from Mizuho has decided to maintain their Neutral rating on Marathon Oil, which currently sits at a price target of $31.
• Consistent in their evaluation, an analyst from Benchmark keeps a Buy rating on Marathon Oil with a target price of $32.
• Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Marathon Oil with a target price of $36.
• An analyst from Goldman Sachs persists with their Neutral rating on Marathon Oil, maintaining a target price of $30.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Marathon Oil, Benzinga Pro gives you real-time options trades alerts.