Deep-pocketed investors have adopted a bearish approach towards ConocoPhillips COP, 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 COP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for ConocoPhillips. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 54% bearish. Among these notable options, 6 are puts, totaling $959,100, and 5 are calls, amounting to $252,000.
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 $50.0 to $95.0 for ConocoPhillips over the last 3 months.
Analyzing Volume & Open Interest
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 ConocoPhillips'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 ConocoPhillips's whale trades within a strike price range from $50.0 to $95.0 in the last 30 days.
ConocoPhillips Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COP | PUT | TRADE | BULLISH | 06/20/25 | $5.5 | $5.25 | $5.33 | $85.00 | $746.2K | 2.8K | 1.5K |
| COP | CALL | TRADE | NEUTRAL | 06/20/25 | $2.54 | $2.4 | $2.46 | $95.00 | $123.0K | 4.6K | 601 |
| COP | PUT | SWEEP | BEARISH | 11/21/25 | $2.35 | $2.34 | $2.34 | $60.00 | $97.6K | 3 | 429 |
| COP | CALL | SWEEP | BEARISH | 04/25/25 | $7.6 | $7.4 | $7.4 | $79.00 | $45.1K | 0 | 61 |
| COP | PUT | SWEEP | BULLISH | 11/21/25 | $2.35 | $1.77 | $2.34 | $60.00 | $33.7K | 3 | 767 |
About ConocoPhillips
ConocoPhillips is a US-based independent exploration and production firm. In 2023, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2023 were 6.8 billion barrels of oil equivalent.
Present Market Standing of ConocoPhillips
- Trading volume stands at 2,953,087, with COP's price down by -0.07%, positioned at $86.39.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 23 days.
What The Experts Say On ConocoPhillips
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $113.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from UBS persists with their Buy rating on ConocoPhillips, maintaining a target price of $111. * Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for ConocoPhillips, targeting a price of $120. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on ConocoPhillips with a target price of $126. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Perform rating for ConocoPhillips, targeting a price of $95. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on ConocoPhillips with a target price of $116.
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 ConocoPhillips, Benzinga Pro gives you real-time options trades alerts.
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