Deep-pocketed investors have adopted a bullish approach towards BP BP, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for BP. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $189,936, and 6 are calls, amounting to $435,531.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $23.0 and $41.0 for BP, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in BP's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to BP's substantial trades, within a strike price spectrum from $23.0 to $41.0 over the preceding 30 days.
BP Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BP | CALL | TRADE | BULLISH | 05/17/24 | $4.4 | $4.25 | $4.35 | $35.00 | $217.5K | 934 | 500 |
| BP | PUT | SWEEP | BULLISH | 05/17/24 | $1.7 | $1.68 | $1.68 | $40.00 | $123.4K | 387 | 1.3K |
| BP | CALL | SWEEP | BULLISH | 04/19/24 | $0.31 | $0.29 | $0.3 | $39.50 | $75.7K | 3.7K | 271 |
| BP | PUT | SWEEP | BULLISH | 05/17/24 | $1.7 | $1.69 | $1.69 | $40.00 | $66.4K | 387 | 612 |
| BP | CALL | TRADE | BEARISH | 10/18/24 | $2.79 | $2.76 | $2.76 | $39.00 | $52.7K | 278 | 191 |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.
After a thorough review of the options trading surrounding BP, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of BP
- With a trading volume of 16,405,849, the price of BP is up by 0.15%, reaching $39.5.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 22 days from now.
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 BP, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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