Financial giants have made a conspicuous bearish move on Petrobras Brasileiro. Our analysis of options history for Petrobras Brasileiro PBR revealed 13 unusual trades.
Delving into the details, we found 23% of traders were bullish, while 76% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $9,721,872, and 6 were calls, valued at $314,446.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $14.0 to $20.0 for Petrobras Brasileiro over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Petrobras Brasileiro options trades today is 13434.9 with a total volume of 27,313.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Petrobras Brasileiro's big money trades within a strike price range of $14.0 to $20.0 over the last 30 days.
Petrobras Brasileiro Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PBR | PUT | TRADE | BEARISH | 01/17/25 | $6.15 | $5.6 | $6.0 | $20.00 | $6.0M | 35.1K | 10.0K |
| PBR | PUT | TRADE | BULLISH | 01/17/25 | $5.45 | $2.53 | $3.5 | $17.00 | $3.5M | 16.8K | 10.0K |
| PBR | CALL | SWEEP | BEARISH | 07/19/24 | $0.33 | $0.32 | $0.33 | $17.00 | $69.6K | 11.4K | 48 |
| PBR | PUT | TRADE | BULLISH | 04/19/24 | $0.1 | $0.09 | $0.09 | $14.50 | $67.5K | 22.7K | 89 |
| PBR | CALL | SWEEP | BEARISH | 07/19/24 | $0.32 | $0.19 | $0.32 | $17.00 | $65.8K | 11.4K | 4.2K |
About Petrobras Brasileiro
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production for oil and gas in Brazilian offshore fields. Production in 2022 was 2.7 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.5 billion boe (85% oil). At year-end 2022, Petrobras operated 11 refineries in Brazil with capacity of 1.9 million barrels a day and distributes refined products and natural gas throughout Brazil.
Following our analysis of the options activities associated with Petrobras Brasileiro, we pivot to a closer look at the company's own performance.
Current Position of Petrobras Brasileiro
- With a volume of 9,320,081, the price of PBR is up 1.53% at $15.88.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 31 days.
Professional Analyst Ratings for Petrobras Brasileiro
3 market experts have recently issued ratings for this stock, with a consensus target price of $17.666666666666668.
- Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Petrobras Brasileiro with a target price of $17.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Petrobras Brasileiro, targeting a price of $17.
- An analyst from HSBC upgraded its action to Buy with a price target of $18.
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 Petrobras Brasileiro options trades with real-time alerts from Benzinga Pro.
© 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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