Behind the Scenes of BP's Latest Options Trends

Financial giants have made a conspicuous bullish move on BP. Our analysis of options history for BP BP revealed 24 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $353,319, and 20 were calls, valued at $1,985,266.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $23.0 to $44.0 for BP over the last 3 months.

Volume & Open Interest Trends

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 BP'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 BP's whale activity within a strike price range from $23.0 to $44.0 in the last 30 days.

BP Call and Put Volume: 30-Day Overview

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 SWEEP BEARISH 05/10/24 $4.65 $4.55 $4.55 $33.00 $236.3K 0 3
BP CALL SWEEP BEARISH 05/10/24 $4.25 $4.1 $4.14 $33.50 $215.2K 0 519
BP CALL SWEEP BULLISH 05/10/24 $4.1 $4.1 $4.1 $33.50 $212.8K 0 1.0K
BP CALL SWEEP BEARISH 05/10/24 $3.3 $3.2 $3.22 $34.50 $167.4K 0 519
BP PUT TRADE BULLISH 10/18/24 $6.3 $6.25 $6.25 $44.00 $133.1K 2 0

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.

Where Is BP Standing Right Now?

  • With a volume of 15,664,931, the price of BP is down -3.59% at $37.64.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 0 days.

What The Experts Say On BP

In the last month, 4 experts released ratings on this stock with an average target price of $44.25.

  • Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for BP, targeting a price of $45.
  • An analyst from Scotiabank has decided to maintain their Sector Outperform rating on BP, which currently sits at a price target of $47.
  • An analyst from Piper Sandler has decided to maintain their Neutral rating on BP, which currently sits at a price target of $43.
  • An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on BP, which currently sits at a price target of $42.

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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...