Behind the Scenes of Occidental Petroleum's Latest Options Trends

Deep-pocketed investors have adopted a bullish approach towards Occidental Petroleum OXY, 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 OXY usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 37% leaning bullish and 37% bearish. Among these notable options, 3 are puts, totaling $442,720, and 5 are calls, amounting to $153,615.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $60.0 for Occidental Petroleum during the past quarter.

Volume & Open Interest Development

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 Occidental Petroleum'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 Occidental Petroleum's whale activity within a strike price range from $30.0 to $60.0 in the last 30 days.

Occidental Petroleum 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.

Current Position of Occidental Petroleum

• Currently trading with a volume of 2,494,106, the OXY's price is up by 0.34%, now at $44.06.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 56 days.

What The Experts Say On Occidental Petroleum

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $51.0.

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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. * An analyst from Citigroup has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $44. * An analyst from Mizuho has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $58.

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