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 9 extraordinary options activities for BP. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 77% leaning bullish and 22% bearish. Among these notable options, 2 are puts, totaling $155,840, and 7 are calls, amounting to $337,590.
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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 $15.0 to $40.0 for BP over the last 3 months.
Analyzing Volume & Open Interest
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 $15.0 to $40.0 over the preceding 30 days.
BP Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BP | CALL | TRADE | BEARISH | 07/19/24 | $2.08 | $2.04 | $2.05 | $36.00 | $97.3K | 1.5K | 475 |
| BP | PUT | SWEEP | BULLISH | 06/21/24 | $2.86 | $2.82 | $2.82 | $40.00 | $77.9K | 9.2K | 120 |
| BP | PUT | SWEEP | BULLISH | 05/17/24 | $2.84 | $2.81 | $2.82 | $40.00 | $77.9K | 1.6K | 0 |
| BP | CALL | TRADE | BEARISH | 08/16/24 | $2.4 | $2.36 | $2.36 | $36.00 | $62.3K | 6 | 264 |
| BP | CALL | TRADE | BULLISH | 06/21/24 | $7.45 | $7.4 | $7.45 | $30.00 | $48.4K | 93 | 65 |
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.
In light of the recent options history for BP, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of BP
- Currently trading with a volume of 1,631,668, the BP's price is down by -0.41%, now at $37.17.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 75 days.
What Analysts Are Saying About BP
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $43.0.
- An analyst from Piper Sandler persists with their Neutral rating on BP, maintaining a target price of $43.
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 BP options trades with real-time alerts from Benzinga Pro.
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