Deep-pocketed investors have adopted a bullish approach towards APA APA, 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 APA usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for APA. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 70% leaning bullish and 30% bearish. Among these notable options, 3 are puts, totaling $147,775, and 7 are calls, amounting to $380,612.
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 $32.5 and $40.0 for APA, spanning the last three months.
Volume & Open Interest Development
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 APA'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 APA's whale trades within a strike price range from $32.5 to $40.0 in the last 30 days.
APA 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| APA | CALL | SWEEP | BULLISH | 07/19/24 | $2.44 | $2.4 | $2.44 | $32.50 | $122.0K | 7.2K | 500 |
| APA | CALL | SWEEP | BULLISH | 06/21/24 | $2.02 | $2.01 | $2.02 | $32.50 | $98.5K | 1.1K | 13 |
| APA | PUT | SWEEP | BULLISH | 05/17/24 | $3.2 | $3.15 | $3.15 | $35.00 | $55.1K | 2.3K | 180 |
| APA | PUT | SWEEP | BULLISH | 09/20/24 | $8.1 | $8.0 | $8.0 | $40.00 | $54.4K | 62 | 68 |
| APA | CALL | SWEEP | BULLISH | 06/21/24 | $0.96 | $0.95 | $0.96 | $35.00 | $48.0K | 3.1K | 48 |
About APA
Based in Houston, APA is an independent exploration and production company. It operates primarily in the US, Egypt, the North Sea, and Suriname. At year-end 2023, proved reserves totaled 807 million barrels of oil equivalent, with net reported production of 405 thousand boe/day that year (64% of which was oil and natural gas liquids, with the remainder natural gas).
Current Position of APA
- With a trading volume of 2,281,717, the price of APA is down by -2.04%, reaching $32.48.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 15 days from now.
What Analysts Are Saying About APA
5 market experts have recently issued ratings for this stock, with a consensus target price of $40.6.
- An analyst from RBC Capital has decided to maintain their Sector Perform rating on APA, which currently sits at a price target of $45.
- An analyst from Morgan Stanley downgraded its action to Underweight with a price target of $28.
- An analyst from Barclays downgraded its action to Equal-Weight with a price target of $40.
- An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $59.
- An analyst from Goldman Sachs persists with their Sell rating on APA, maintaining a target price of $31.
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 APA with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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