Occidental Petroleum's Options: A Look at What the Big Money is Thinking

Benzinga's options scanner has just identified more than 10 option transactions on Occidental Petroleum OXY, with a cumulative value of $369,390. Concurrently, our algorithms picked up 6 puts, worth a total of 265,874.

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Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $37.5 to $50.0 for Occidental Petroleum over the recent three 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 Occidental Petroleum's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Occidental Petroleum's substantial trades, within a strike price spectrum from $37.5 to $50.0 over the preceding 30 days.

Occidental Petroleum 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Occidental Petroleum

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,327 thousand barrels of oil equivalent per day in 2024 at a ratio of roughly 52% oil and natural gas liquids and 48% natural gas.

In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Occidental Petroleum

• Trading volume stands at 5,432,167, with OXY's price up by 0.88%, positioned at $42.28.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 62 days.

Expert Opinions on Occidental Petroleum

4 market experts have recently issued ratings for this stock, with a consensus target price of $49.25.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Occidental Petroleum with a target price of $44. * An analyst from JP Morgan persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $47. * Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $58. * An analyst from Barclays persists with their Equal-Weight rating on Occidental Petroleum, maintaining a target price of $48.

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 Occidental Petroleum options trades with real-time alerts from Benzinga Pro.